SportsTech Investment Summary

Startups Investment Recap – August 5

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.

Tempo announced a $60 million Series B

Tempo, a home fitness startup, announced a $60 million Series B. The round was led by Norwest Venture Partners and General Catalyst, along with repeat investors Founders Fund, Signal Fire, DCM, Y Combinator and Bling Capital. Notably, the company says it’s on track to hit a $100 million run rate by year’s end, owing in part to sales that have jumped 500% since the company opened up pre-orders this February. The home fitness category had already been gaining considerable traction in recent years and months, but the ongoing pandemic has undoubtedly accelerated interest by orders of magnitude.

Mobalytics raised an $11 million Series A

Mobalytics, the Esports analytics company raised an $11 million Series A. The funding round was led by Almaz Capital and Cabra VC, with HP Tech Ventures, General Catalyst, GGV Capital, RRE Ventures, Axiomatic and T1 Esports participating. Mobalytics will use the funds for expansion into other games and genres. The company is building on the success of the past few years with a new funding round and a compelling new collaboration with Tobii that uses eye-tracking to provide powerful insights into gamers’ skills.

Fortunis Capital to make a £15m phased investment in Sportside

Fortunis Capital confirmed an investment in Sportstech company Sportside. The funding will include an initial £2M GBP, with further phased funding over the course of the next two years that will total in £15M GBP. Sportside is a ‘connect and play’ social app, which is scheduled to be launched in autumn. The app is a one-stop platform that lets people find their perfect sporting match, by age, ability or geography – and gives clubs and coaches the resource to manage their business and attract new clients. 

Mission Control received a $1.75M investment

Mission Control, a company building rec league esports programs, received a $1.75M investment led by Dundee Venture Capital with participation from M25, Cultivation Capital, and MATH Venture Partners. Mission Control works with schools, community centers, and companies to build out esports programs in their communities. To date, Mission Control’s partners have included GameStop and Minnesota ROKKR. The company has also helped Duke, MIT, Dallas’ Parks, and Rec department, and the Special Olympics in New York and Oregon build esports programs.

IQONIQ entered into a €100M capital funding agreement with Lux Media

IQONIQ, a new fan engagement platform exclusively targeting the world of sports and entertainment, announced it has entered into a €100M capital funding agreement with Luxembourg based investment corporation Lux Media Investments. The funds will help IQONIQ focus on global growth, activating new partnerships, and fan experiences for fans across the world. The funding comes after Iqoniq formalized partnerships with rights-holders such as Euroleague Basketball, Olympique de Marseille, AS Monaco, North Carolina FC, and the Drone Champions League.

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