Shot Scope secures £2.7m in A series funding led by Guinness Ventures

Shot Scope secures £2.7m in A series funding led by Guinness Ventures

The Shot Scope team

Edinburgh-based manufacturer of golf technology and improvement products Shot Scope has raised £2.7 million 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 were advised by PWC.

Shot Scope has more than 100,000 users in 162 different countries worldwide. The company has a team of 25 people – its product range includes GPS watches, Laser Rangefinders, GPS Handhelds and Shot Tracking devices.

Shot Scope’s patented wearable, laser and performance tracking devices are designed by golfers for golfers. The innovative shot tracking technology enables players to make better decisions on course; and offers a unique off course digital platform where the golfer can relive their round. Shot Scope products and software are said to help golfers improve by 4.1 shots on average, improving golfers’ games in fewer than 25 rounds.

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.

David Hunter, CEO, Shot Scope, said: “Six years ago as a keen amateur golfer I realised that technology could enable players to make better decisions on the course. Since then, Shot Scope has grown from a start-up to an established market leader in GPS, laser rangefinder and digital on course tracking. I am delighted that Guinness Ventures has partnered with Shot Scope.

“As market leader in the UK, 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, added: “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.”

Ed Reid, associate director at PwC Raise | Ventures, commented: “We were delighted to advise Shot Scope for their Series A. Despite more challenging market conditions, Shot Scope has secured investment from investors who understand their market and mission to change the game of golf. We’re excited to watch their progress as they build a category-defining business.”

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 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.

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