Emerging space: Sports tech

Private markets are constantly changing. New spaces often rise, then fall, within a short time span. It can be challenging to identify and track tomorrow’s most promising spaces given their fluidity. So, our analysts have devised a methodology.

Definition and categorizing

These

Emerging areas

. We’ll be looking at sports tech as one example.

What is sport tech?

Simply put, sportstech is the intersection of sport and technology. Companies in this area are not only pushing boundaries in athletic performance, but they also help prevent injuries, curate virtual experiences, and think ahead to the future.

Sports tech includes devices that help to minimize the severity of concussions. Sports tech also includes streaming services that give fans an immersive and interactive experience, right from the couch. This space is still in its infancy and has a lot of influence from biotech, machine-learning, and artificial intelligence.

Importantly, this sector is increasingly being flooded by investors, who are betting on technologies and fan experiences that will make it more attractive to athletes. All told, the total investment in capital by sports tech companies was $826.75 million in 2021. This article focuses on sports tech and examines the most innovative startups as well as active investors.

Quick stats


Companies


83


Deals


266


Capital investment


$1.64B


Investors


399

Key growth metrics


$818.23M

Capital invested

253.17% YoY


$1M

Median deal size (TTM)

104.39% YoY


$10.74M

Median post valuation

V +4.47% YoY

Companies that specialize in sports technology


Kiswe

HQ New Providence NJ

Leadership: Wim Swedens, Cofounder and Board Member

Latest deal: Series B (October 2021)

Kiswe

A cloud-based video company, Streaming Live is a provider of live streaming. It engages digital audiences worldwide and provides real-time streams. The platform allows event promoters to modernize the fan experience, allowing at-home viewers access to their favorite artists and athletes from the comforts of their home.

The company raised an estimated $36million in Series-B venture funding in October 2021.

Sony Innovation Fund

,

Hybe

New Enterprise Associates

Its premoney valuation is set at $223 millions


HUDL

HQ Lincoln NE

Leadership: David Graff, Chief executive officer and board member

Latest deal: PE growth/expansion (May 2020)

Hudl

This platform is designed to give coaches and athletes the information and data they need in order to improve their sports performance. The company’s portfolio of products includes smart cameras, analysis, professional consultations, and mobile or desktop applications.

In May 2020 the company received $120million of development capital

Bain Capital Tech Opportunities

Nelnet Capital

.


Q30 Ideas

HQ Westport, CT

Leadership: John Hoey, co-founder and Chief Operating Officer

Latest deal: Later-stage VC (December 2021)

Q30 Innovations

Q-Collar developed by is the creator. It is an externally-worn device which reduces the brain’s ability to move within the skull during acceleration and deceleration. This device helps athletes reduce the possibility of brain injuries and does not affect their comfort or performance. The company received $15.56M in venture capital from undisclosed sources in December 2021.


Immersive.io

HQ Paris, France

Leadership: Emmanuelle Roger, Co-founder & Chief Executive Officer

Latest deal: Accelerator (2019)

Immersive.io

It is the creator of an AR program that gives fans a realistic and interactive sports viewing experience. AR technology allows players to display 3D avatars in their living rooms. They also show volumetric videos of the game. This allows fans to experience the game from a closer distance. The company joined the AR technology in September 2019.

Women in XR

As part its third WXR accelerator cohort.

Most active investors for sports tech


Techstars

Boulder, CO.

Sports tech investments:

Latest deal in sports tech: November 2021

It was established in 2006

Techstars

Boulder, Colorado-based accelerator. The firm provides funding to startup founders and runs a three-month-long accelerator programme in multiple cities in the U.S.A. and U.K. In November 2021, fan engagement platform

Rivet

Techstars, Boston’s 15th Class, received $120,000 in funding.


Elysian Park Ventures

HQ: Los Angeles, CA

6

Newest deal in Sports Tech August 2021

This company was founded in 2014.

Elysian Park Ventures

Venture capital firm based out of Los Angeles, California. The firm prefers investments in growth, venture, or seed funding in the entertainment and sports technology industries. In August 2021 the firm provided $2.2million in seed financing for sports market research.

Sports Innovation Lab

.

Tel Aviv, Israel.

5 Investments in Sports Tech

Latest deal in sports tech: June 2020

This company was founded in 2014.

Firstime

Venture capital company based in Tel Aviv. The firm prefers seed-round, early-stage and late-stage investments in media, video, and gaming sectors. The company invested in

Pixellot

Developer of broadcast video cameras and production devices that provide live coverage at a low cost.

Get to Know Some of PitchBook’s Other Emerging Spaces

  • Carbon capture & removal
  • Clean meat
  • Digital freight brokerage
  •  
  • air taxis
  • Ghost kitchens
  • Indoor farming
  • Insects-based foods
  • Modular building
  • Neurotechnology
  • Smart clothes, jewelry
  • Space tourism


This article was based off PitchBook’s Emerging Spaces section.

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