SportsTech Investment Summary

Startups Investment Recap – April 29

Hello HYPE readers!

Welcome to your bi-weekly recap where we come to you with all the green goodness in the startup investment sector. Let’s dive in.

FaZe Clan announces a $40M Series A Investment

Vicis, a high-tech football helmet maker based out of Seattle, had its assets purchased out of receivership  after a downfall in the past year, which left it out of cash and no longer in business. Innovatus Capital Partners paid $2.85 million for Vicis’ assets with plans to form a new company and revive the failed startup’s helmet technology. The purchase follows an $18 million investment Innovatus made in October, in Schutt, one of the leading U.S. football helmet manufacturers based in Litchfield, Illinois, and a Vicis rival. Before the company’s financial troubles, Vicis repeatedly placed first in the NFL’s helmet safety test and discussed plans to build helmets for other sports.

360VUZ Raises $5.8 Million In Series A Funding Round

360VUZ, a UAE-based live streaming and video mobile app has successfully raised US$5.8 million in a Series A round. The company is an immersive video app that allows users to be virtually present in live events, concerts, sports, conferences and experiences using its 360-degree live streams.The round was led by Shorooq Partners, and further included firms such as KBW Ventures, Media Visions, Vision Ventures, Hala Ventures, 500 Startups. 360VUZ will utilize the new investment to enable further development, offer more personalized experiences, and scale the business and expand its global reach.

Playtomic raises €1.7 million

Playtomic, a Spanish app for sports reservations, has raised €1.7 million from existing investors GP Bullhound and Optimizer Invest. The new funding comes one year after a €6 million round. The app allows players to reserve courts, find other players with similar skill levels, and join a social sports community. It also provides Sports clubs with a way to digitise their own membership and facility management processes. Playtomic will use the funding to grow through product development and acquisitions both in Europe and globally. 

Augmented reality swimming goggles maker Form raises $8.5M

Vancouver, B.C.-based startup Form raised $8.5 million ($12 million CAD) for its augmented reality swimming goggles. Form was founded in 2016 by tech vet and former competitive swimmer Dan Eisenhardt. The company’s goggles provide real-time visual feedback such as metrics on split times, distance, stroke rate, pace, and calories. They also provide a heart rate monitoring feature powered by Polar. The company launched in August and shipped more than 10,000 goggles in its first four months of operation. The round was led by large family offices in the UK and Denmark, and included participation from Silicon Valley Bank.

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