Shot Scope raises funds for global expansion
A Scottish manufacturer of golf technology and improvement products, Shot Scope, has raised £2.7m in a series A funding round headed by Guinness Ventures which invested £2.1m.
The round also includes investment from the Scottish Investment Bank, Old College Capital – the in-house venture capital arm of the University of Edinburgh – and Edinburgh based angel fund Equity Gap. Shot Scope was advised by PWC.
Edinburgh-based Shot Scope has more than 100,000 users in 162 countries. It has a team of 25 and its product range includes GPS watches, Laser Rangefinders, GPS Handhelds and Shot Tracking devices.
CEO and Founder, David Hunter says that his goal is to create a product and service that users “cannot go golfing without,” whilst offering the best possible customer experience. Its excellent star rating on Trustpilot is testament to this aim.
He said: “Six years ago as a keen amateur golfer I realised that technology could enable players to make better decisions on the course. I am delighted that Guinness Ventures has partnered with Shot Scope.
“Our team wants to scale up global expansion so golfers around the world can experience the game-improving benefits of Shot Scope. The investment and partnership with Guinness Ventures will allow our team to focus on this growth and deliver our technology to golfers globally.”
Adam Barker, deal lead, Guinness Ventures said: “We were impressed by the management team and board’s depth and breadth of experience as well as their passion for golf. They’ve a proven track record for delivering both technology products and fast growth companies.”
“The Shot Scope team’s deep understanding of golfers and the golf market has resulted in some incredible products. We love the amazing range of great golf tech and are excited to be on the inside with a preview to the roadmap of products, software and features, that we can’t wait to see launched and change the game.”
The team includes a retired professional golfer who played in the 2009 Walker Cup, a Scotland Ladies team player and a former PGA professional coach.
The company has mapped 36,000 golf courses around the world. It owns this data and can quickly make edits or changes to golf courses requested by users. The Shot Scope app and dashboard provides over 100 statistics on the golfer’s game including club distances, approaches, short game, putting, scoring, handicap benchmarking and strokes gained.
The capital investment and partnership with Guinness Ventures will allow Shot Scope to scale on the back of their success in the UK and bring game improvement technology to golfers globally.