Shot Scope secures $5 million capital to scale US activity in 2019/2020
Shot Scope Technologies the Scottish based GPS and Performance Tracking Golf Watch has raised $5 million capital to scale and grow in the US market. The additional resources strengthen Shot Scope’s ability to expand into the US market building upon already established relationships with media partners and retailers. The capital includes follow-on investment from Scottish Investment Bank, Old College Capital the in-house VC fund of The University of Edinburgh and angel fund Equity Gap. In total Shot Scope has raised over $10.5 million in 4 years to deliver game changing GPS and performance tracking technology solutions to the golf market.
“I am delighted that Shot Scope has secured this capital and that our shareholders continue to support the company’s vision of international expansion. The team at Shot Scope are excited to build upon our existing relationships in the USA and deliver our market leading performance tracking and GPS technology to the US golfer.” David Hunter, CEO Shot Scope Technologies Ltd
Based in Scotland, Shot Scope V2 is a market leading GPS watch, out-selling competitors in Q1 and Q2 in the UK in 2019.
The V2 harnesses Shot Scope patented ClubSense technology to communicate with passive tags during the swing, the watch is capable of determining the actual shot and ruling out practice swings and waggles. Currently Shot Scope records 1 million shots every 10 days. Shot Scope V2 has been used in 58 countries and the Shot Scope apps are available in 5 different languages.
On average a Shot Scope V2 user reduces their handicap by 2.7 shots over the first 30 rounds played with the system.
40,000 courses worldwide are available and Shot Scope has an in-house mapping team which can update any course in less than 48 hours.