News, features & insights from the world of SportsTech. Every Week.
Lots of funding news to get through this week. Can feel that momentum building slowly. And
inspired by CES, we take a look at a few consumer tech products that will likely have a big say in the
sports world this year.
Feature Story
Consumer Tech Products that will impact Sports in 2024
As CES concluded last week, we got to see some pretty ‘interesting’ products. From a See-Through
TV from LG to a $12k toilet from Kohler, it’s all there. The power of the human spirit to solve
problems on full display, even when one doesn’t seem to exist.
Apart from all the weird stuff, there are always a few that make you to sit up and take notice. This
got us thinking about what new products / gadgets do we expect to see in 2024 that could have an
impact in the world of sports
🕶️Apple Vision Pro: The obvious first. Set to launch February 2nd, 2024, the $2k+ price point means
that we’re still a long way from mass adoption of this or any other lo-fi VR headset (sorry Meta). But
early signs indicate that sports will play an important role in how the product is used. Apple’s
increased recent investment in sports & fitness is not without a grand design in place.
👟 Nike’s DOT SWOOSH: Who said the products have to be physical. After banking $185 million in
sales during the 2021-22 NFT heyday, Nike’s recent post on the the future of .swoosh only reinforces
the companies belief in the future of virtual products & digital merchandise.
🚁 Electric Air Taxis: There was a lot of early buzz around air taxis at the Paris Olympics, as well as
some pretty strong opposition. Do we really expect to see eVTOLs (electric vertical take-off and
landing) flying around Paris? No. But if they are then best believe we’ll be in one.
💍 Smart Rings: Part of the inspiration for this piece – Samsung just announced that they are making
a smart ring, Apple has been rumoured to be working on one for a while. The headstart that Oura
and others have had is quickly disappearing as 2024 might be the year of the smart ring. Add that
to the FitnessTech gadget everyone must get for Christmas.
🏎️Hydrogen based racing: Okay we’re cheating a bit since this is slated for 2025 instead of this year.
But the FIA’s announcement to rebrand the Extreme E series as Extreme H is a strong
endorsement of the tech. And Le Mans is already set to introduce a hydrogen category from 2026.
Everyone doing their part in the race to net zero.
That was a quick list and we’re sure there are more worth talking about. Join us on LinkedIn to chat
about any others you have in mind.
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Top News from the World of SportsTech
⚡ APEX Capital’s Impact Program has closed it’s 1st round with 3 startup investments- Hexis, a
nutrition platform; Traits, an athlete profiling tool and VRTL, a virtual fan engagement environment.
💸 Match Ventures is getting more attention for their €40 million fund which aims to back 20
companies and also improve the broken VC due diligence model. We already broke this news in our
latest VC Report where Match Ventures was a partner, good to know that others are coming round
to it.
🤝 The NFL is in advanced talks to take an equity stake in ESPN in a deal that could see the Disney
owned company take control of NFL media – which includes NFL Network, NFL.com, Red Zone,
NFL+ and NFL Films.
🏎️The Mercedes Formula 1 team is set to collaborate with Florida based automotive technology
company Lumina, to use their LiDAR system to enhance security for the FIA safety car.
🏈 OneCourt is making the news for their haptic miniature field that helps visually impaired fans
enjoy their favourite sport – American Football. Fans can use the board to feel player and ball
positions in near real-time.
💥 Teamworks, the Operating System for Sports powering over 6,000 sports organizations worldwide,
has now arrived in Germany. Willkommen.
Not SportsTech but you should know:
⛳ Apex Capital, along with athletes Alex Albon and John Stones, are investing in a San Francisco
team competing in the Woods & McIlroy backed indoor Golf League, TGL.
🏀 As part of a new multiyear partnership with Fanatics, LeBron James and his son Bronny, will
appear together on an upcoming trading card.
📢 NBA Champion Giannis Antetokounmpo announced the launch of Improbable Media, a
production and brand consulting company. Founded with former NBA hooper Jay Williams and
other partners the company will start with producing documentaries about the 2 time MVP.
🏎️The all-electric motor racing series, Extreme E, is going to be discontinued after 2024 as they shift
to a hydrogen-powered competition next year under the moniker Extreme H.
🏏 The Indian conglomerate GMR Group, part owners of Delhi Capitals, are close to acquiring a major
stake in Hampshire County Cricket Club.
Money Talks:
Two Circles, a marketing firm owned by Bruin Capital, has been sold for $315 million to London
based private equity firm Charterhouse Capital Partners.
🎦 Bruin Capital has invested about $38 million in the sports-focused production company Box to
Box Films, taking a minority stake.
💰 GolfForever, which offers golfers an at-home training system, secured $10 million in Series A
Funding led by Clerisy.
💰 Los Angeles based new sports memorabilia authenticator, The Realest, has secured $4.6 million in
seed funding in a round led by KB Partners.
💰 Full Venue, a Portugal-based AI company for the sports and events industry, raised €2 million in
seed funding led by GED Ventures.
💰 Estonian basketball fan engagement platform Scorestars secured €725K in a seed round of
funding led by Trind VC, Startup Wise Guys, 3 Comma Capital, and Estonian angel investors.
💰 One of the leading providers of custom wellness and performance programs for federal agencies,
O2X Human Performance has received a growth investment from Falfurrias Growth Partners, a
Charlotte-based private equity fund.
🤝 Teamworks has acquired Kairos, a communication and messaging software for professional sports,
for an undisclosed amount.
🤝 A leader in digital health and wellness, FlexIt Inc., has acquired Sukhi Inc., a Washington based
Enterprise Wellness business, for an undisclosed amount.
🤝 Madrid based Playtomic has acquired Sportclubby, the Italian social platform for sports, for an
undisclosed amount again.
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⚡ STX Weekly: Last week’s newsletter, the first of 2024, in case you missed it