2022 was a document 12 months for sports activities tech funding in Europe. Startups within the sector raised $1.4bn, in accordance with Dealroom, as VCs cottoned onto alternatives to gamify experiences for avid followers, construct sports activities communities and supply deeper efficiency analytics for each amateurs and professionals.
Whereas the $592m picked up by startups within the sector up to now in 2023 is unlikely to hit the heights seen final 12 months, loads of corporations have satisfied VCs — and quite a few skilled sportspeople themselves — to half with their money.
Germany’s eGym, which supplies gyms with software program and tools, raised €207m in July. Smaller rounds have additionally rolled in for Lenus eHealth — a startup that helps private trainers begin a enterprise — which raised €26.8m in Could and fantasy soccer recreation GOALS, which raised $20m in April following a $15m seed spherical in 2022.
However which sports activities tech startups have buyers obtained their eye on in the intervening time? To seek out out, Sifted spoke to VCs from Increase Capital Companions, Lively Companions and Moonfire Ventures.
Courtney Sawatzke, early-stage investor, Lively Companions
Lively Companions is a London-based early-stage VC.
Jennis — UK
Jennis is a UK-based health startup based by Olympic gold medallist Jessica Ennis-Hill, which leverages hormonal well being science to create personalised lifecycle programmes for ladies. Ladies are historically underserved in most markets, and sports activities is just not an outlier. Jennis is constructing tech that helps ladies really feel extra answerable for their well being and higher perceive how their cycles affect their lifecycle and health.
Solo60 — UK
Solo60 is a community of absolutely geared up micro-gyms and remedy areas. It has 5 areas round London and gives versatile packages for purchasers. There’s additionally rising demand within the wellness marketplace for companies together with private trainers, nutritionists and counsellors. Solo60 is using that pattern by creating a versatile house for trainers, therapists and gym-goers.
HindSight — UK
HindSight is an Edinburgh-based startup constructing biking glasses that function patented rear-view mirror expertise to assist cyclists keep safer on the roads. The startup was based by Olympic gold medallist Callum Skinner.
Alvaro Alvarez del Rio, founder at Increase Capital Companions
Increase Capital Companions is a London-based early-stage VC. In June this 12 months, it introduced the primary closing of its first fund, with a goal of $40m.
Runna — UK
Runna is a personalised working app that creates plans for its customers based mostly on their targets, present health and dwell enchancment. It has gained important traction within the UK and companions with quite a few working occasions within the nation.
RacketPal — UK
RacketPal permits customers to seek out gamers with an identical talent stage of their space to play racket sports activities with. They’ll additionally organise leagues or discover coaches. It is focusing on an untapped however quickly rising market as racquet sports activities acquire important reputation in Europe.
HackMotion — Latvia
HackMotion makes use of monitoring expertise with a wrist gadget to assist totally different ranges of golfers enhance their swings. Its wrist gadget combines {hardware} and software program to unravel an issue that earlier than wanted excessive value tools or a coach.
Akshat Goenka, principal at Moonfire Ventures
Moonfire Ventures is a London-based early-stage VC.
Omada — France
Omada is a gamified sports activities outcomes platform that enables followers to foretell the scores of a number of sports activities from soccer to basketball. Customers win in-app “cash” and rating factors. The startup has lately raised a €7.1m seed spherical from buyers together with Felix Capital and Harry Stebbings’s 20VC, and says it has 1m worldwide customers.
Carv — UK
Carv helps folks to enhance their snowboarding. The startup’s tech-enabled ski boot insole supplies personalised analytics and suggestions for enchancment. Carv is now turning into an ordinary resolution at many ski resorts globally.
Final Champions — France
Based by quite a few ex-Ubisoft studio managers, Final Champions is a blockchain-based fantasy soccer and basketball recreation. Customers construct fantasy groups by accumulating participant playing cards and compete towards others. The sport creators have accomplished an excellent job with the totally different engagement loops throughout competitors, collaboration and monetary incentives.
Condense Actuality — UK
Condense Actuality is a digital occasions platform — for sports activities in addition to different dwell occasions — which lets organisers broadcast in digital areas with a excessive diploma of customisation and immersion.
Playermaker — UK
Playermaker is an analytics resolution that helps soccer gamers upskill through analytics and suggestions. Customers can connect a small gadget onto their soccer sneakers for a deeper understanding of their efficiency and progress. Playermaker’s gadget was lately authorised by FIFA to be worn throughout skilled soccer matches.
