Shot Scope Funding News – Shot Scope Raises $8.5 Million in Funding
Aug 1, 2024 | By Team SR
Shot Scope has raised $8.5m in a Series B funding round led by Guinness Ventures, which invested $4m. The funding round also included investment from key participants: Scottish Enterprise, Growthdeck, The SideBySide Partnership, and Edinburgh-based Equity Gap, alongside Virgin Money providing $1.9 million in debt finance as part of the funding round.
Through this Series B round of investment, Shot Scope will bring its subscription-free, game-enhancing technology, such as GPS wearables, laser rangefinders, and shot tracking devices, to golfers around the globe, offering more in-depth performance analytics. Accompanied by Shot Scope’s mobile app and web dashboard, the organisation provides golfers with all the tools to enable them to have a more engaging experience and the ability to improve their skills.
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David Hunter, CEO and Founder, Shot Scope, said: “This investment accelerates our mission to deliver game improvement technology to 60 million golfers around the world. Throughout 2024, we plan to invest in infrastructure across the USA to support our retail and distribution partners. Golfers globally love our GPS, rangefinder, and shot tracking technology, having sold products in 160 different countries worldwide in 2023. Golf has experienced a huge change in the past 5 years; people of all ages and demographics love the sport. With Shot Scope, golfers can improve quickly and enjoy the game they love even more.”
Adam Barker, Guinness Ventures, added: “Shot Scope’s innovative product and software suite is meeting strong market demand, positioning the company for significant expansion both domestically and internationally. As lead investor, we are thrilled to further support Shot Scope at this inflection point and to continue being a part of its exciting growth journey.”.
Shot Scope, founded in Scotland (the Home of Golf) by CEO David Hunter, has become a trusted brand in the UK, with key buying groups, green grass retailers, and pro shops welcoming the brand into their networks. With Shot Scope products readily available across the UK, the organisation looks to establish the same trust worldwide.
As part of the expansion, Shot Scope is relocating to a new headquarters on the outskirts of Edinburgh to accommodate the growing team of marketing, sales, and customer service experts. The new site will support Shot Scope’s ambitious plans to scale operations and deliver game-changing technology to a worldwide audience in the future.
Shot Scope has established a presence in Europe, Australia, and New Zealand, with retailers including Dormy, Golfbox, Golf Warehouse, and PGC Group stocking their game-enhancing technology and helping golfers improve their game.
Supplementing the physical products, Shot Scope’s mobile app and web dashboard are home to a plethora of free-to-access features for its users. Features include aerial GPS maps on over 36,000 courses worldwide, over 100 tour-level performance statistics, and MyStrategy, the data-driven strategy builder.
About Shot Scope
Shot Scope Technologies, founded in 2014 and headquartered in Edinburgh, Scotland, offers a range of industry-leading products that improve the way golfers access distances on the golf course through both GPS wearables and laser rangefinders. Their innovative shot tracking devices record over 100 statistics, enabling every golfer to analyse their round, know their game, and help shoot lower scores. Shot Scope products have collected over 350 million shots and been used by hundreds of thousands of golfers worldwide, who enjoy lifetime free updates and no subscription fees, helping them to save an average of 4.1 strokes.