SportsTech Investment Summary

Startups Investment Recap – January 27

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.

Startups Investment Recap – January 27

Orreco has raised $3.6M in funding

Irish sports technology company Orreco has raised $3.6 million in funding led by True ventures, a key investor in both Fitbit and Peloton. The new round of financing will help grow the company’s headcount across the UK and Los Angeles. The company uses machine learning and data analytics to monitor elite athletes’ health, helping to accelerate recovery. Blending Sports and Data science is the main focus of this upcoming sports analytics company. Orreco offers an advanced biomarker analytics service. Their advanced analytics service is a full blood review of over 50 biomarkers, giving a view ‘under the hood’ of the factors that drive athletic performance.

Loupe Tech Inc. has closed $3M in funding

Loupe Tech Inc., a new sports card breaking app, has closed $3 million in funding, with a first round led by Upfront Ventures. The company says entrepreneur and collector Nat Turner has also contributed capital aimed at growing the business. Loupe is a live e-commerce streaming platform built for sports card collectors. It offers a unified platform for breakers to live stream and sell sealed packs and single cards to collectors who are able to interact with sellers in real time. All of the activity takes place inside a single free app. The company also plans to expand on the service by developing a host of user-requested features, signing high-profile sellers, and inking strategic partnerships in the pro sports space.

VSPN has raised $60M in a series B+ funding round

Shanghai-based esports event organizer Versus Programming Network (VSPN) has raised $60 million in its series B+ funding round, as esports’ inclusion in the lineup for the 2022 Asian Games as a full medal event has increased investor interest. The round was joined by Prospect Avenue Capital, Guotai Junan International and Nan Fung Group. Proceeds will be used to develop esports production technologies, build up intellectual properties, create new esports products and content as well as expand business globally. Four-year-old VSPN, which focuses on organizing esports tournaments, content creation and offline venue operations, currently holds 70% of the market for premium esports events in China.

Zomato has reportedly acquired Fitso for over $10M

Zomato has reportedly acquired Jogo Technologies, which operates sports facilities provider Fitso. Zomato has bought 100% of the company in an equity and cash deal, news website Entrackr reported on Thursday. The deal size is reported to be in the range of Rs 80-100 crore (Over $10M USD). Fitso Sports standardises facilities at stadiums, fields or courts, implements best practices in facility management using technology and provides trained coaches. The startup has raised $1.5 million in pre-Series A funding from early-stage capital firm SRI Capital, investment banking firm Sprout Capital, venture capital firm IPV Capital, Pankaj Chaddah, and Ashish Gupta, co-founder, Helion Venture Partners in September 2019.

ShotTracker has raised $11M in a funding round

ShotTracker, the shooting analytics platform used by more than 63 NCAA Division I basketball teams, has raised $11 million. The round was led by Verizon and Evertz, a Canadian developer of broadcast production equipment, and brings ShotTracker’s total funding to more than $30 million. The new capital will be used to expand ShotTracker’s deployment to more schools across top NCAA basketball conferences, hire staff, and enhance the company’s sensors. ShotTracker’s app tracks shot analytics through sensors embedded into game balls, player jerseys, and around the court. The company raised a $10.4 million Series A round in 2018 and its past investors include former NBA commissioner David Stern, Magic Johnson.


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