The investment brings to £4.5 million the total raised by the company since its launch in December 2014. The Edinburgh-based company, led by founder and CEO David Hunter, attracted investments from high-net-worth individuals, Scottish Investment Bank, Equity Gap and Old College Capital, the investment fund of the University of Edinburgh.
This investment enables us to scale up manufacturing, scale up marketing and scale up sales.David Hunter, CEO , Shotscope
The company has pre-sales of its Shot Scope V2 in 30 countries, and expects to ship at least 20,000 units over the next year. The funding round is the company’s third, following a £1.6m fundraising in 2016 and a £400,000 round in 2015. The company has also received £1m in government grants.
Shot Scope is the only wearable golf device that both automatically tracks a player’s performance and provides live “yardage” distances on the golf course. It enables players of all standards to closely monitor, analyse and ultimately improve their game, and it is approved by global rule-setting bodies the R&A and the United States Golf Association.
Shot Scope today employs 18 people at its Edinburgh headquarters and works exclusively with Scottish suppliers and manufacturers, with the exception of an electronics supplier in Newcastle. Among the Shot Scope board are Chairman Ken Lewandowski, an experienced technology and manufacturing chief executive and Rob Jones, co-founder of Fan Duel, the billion-dollar fantasy sports game launched in Edinburgh, who joined Shot Scope’s board in September.