#78: AO and NBA open Applications for Startups 🚀

News, features & insights from the world of Sports Tech. Every Week.

Lots of funding news this week plus more innovation programs for startups to apply to. Lead by a guest article by PTF Lab, diving into the complexities of overlay advertising in combat sports.

Happy Friday 😎

Feature Story

How AI is Democratising High-Tech Solutions for Sports

Another guest article, this time by our friends at PTF Lab, talking about the dynamic shift in sports advertising. And especially on “How AI is Democratising High-Tech Solutions for Sports”.

We’ve seen custom overlay advertising for a while now, but the complexities change with the sport. The article goes into exactly why that is. Here’s an extract:

“The sporting industry has traditionally been conservative in its approach to advertising. Even the introduction of on-field advertisements occurred only in the middle of the last century. Many of us can still recall the introduction of Hawk-Eye for visual ball tracking. While this may seem natural today, the initial idea was rejected and met with scepticism.

The replacement of advertisements Initially was referred to as the “Replacement Perimeter Overlay” technology. However, this term has since become outdated. It is not limited to the perimeter of the field; rather, brands are now placing advertisements on the field itself, above the stands, and even leaving logos floating in the air. But technology hasn’t reached all the possible customers yet. Why?”

Click on the link to find out.

Top News from the World of Sports Tech

🎾 AO Startups is back for the third intake after running pilots with an incredible 13 different startups at AO24. Applications are open till May 24. Apply Here. 

🏀 The NBA has opened applications for basketball tech companies to showcase their products and services to sports executives, strategic partners, and investors at an exclusive, invite-only event at this year’s NBA Summer League. Apply Now before 30th May. 

🎟️ The Premier League and Fanatics Collectibles announced a landmark multi-year trading-card partnership making Fanatics Collectibles the exclusive provider of Premier League trading cards, trading card games and stickers from June 2025.

⚽ In a Premier League first, referee Jarred Gillett wore a “RefCam” during Crystal Palace v Manchester United match. The technology comprises a head-mounted device which is integrated into the usual referee communications system.

🎦 Juventus FC officially launched the Juventus Creator Lab, a new approach to sports media in which the club’s' digital ecosystem and its media network join forces to create unique content experiences for an increasingly international digital audience.

🚴 Layer has created a striking new exercise bike, the Saga HoloBike, complete with an immersive riding experience and new display technology.

💻 The Pioneer Baseball League added a new rule, the 'Strike Zone Challenge’, which will allow any batter, pitcher or catcher to challenge a called strike or ball in real-time using an automated ball-strike system. 

⛳ New massive LED screens from GoVision will be on display at dozens of PGA, LPGA events. 

💸 Through 3 early stage funds, over 100 investments, and $200M+ in AUM, Courtside Ventures has proved that returns can be achieved in SportsTech and associated categories.

💰 Sixth Street, the investment firm that owns a 20% stake in the San Antonio Spurs, is set to raise their debut Sports Fund. 

🤝 NBA Washington Wizards forward Kyle Kuzma, joined early-stage-focused Scrum Ventures in March as an adviser to help with the firm’s $120 million sports and entertainment fund.

Not Sports Tech but you should know:

👟 Reebok with their tech partner Futureverse to allow users to turn Instagram pictures into an AI-Customized Digital Sneaker. The application doesn’t even require text prompts.

🏎️ The Miami Grand Prix delivered Formula 1 its biggest ever live US TV audience of 3.1 million viewers, which beat the previous record of 2.6 million that watched the inaugural Miami event in 2022.

💪🏽 FIFPRO, the Professional Footballers' Association, Nike and Leeds Beckett University have teamed up for a 3 year research project to study ACL injuries in women's game which will focus on England's 12-team WSL. (Women are 2-6 times more likely to suffer ACL injury than men.)

🏀 The WNBA debuts of Angel Reese and Kamilla Cardoso were widely watched on a social media livestream from a fan when the league’s app couldn’t broadcast the game. The WNBA's app had incorrectly listed the game as available to watch, leading to confusion from fans before the league clarified that only Caitlin Clark's debut with the Indiana Fever was being broadcast. C’mon guys, be better.

Money Talks:

💰 CA based fan experience app, 15 Seconds of Fame, raised $15 million in a Series A round led by Shadowbox Studios. 

💰 SoBet, US based sports betting creator platform, raised $3.7 million in a funding round led by Third Kind Venture Capital. 

💰 London-based sports tech company, Sportable, raised £3 million ($3.75 million) from Guinness Ventures as part of a $15 million series A round.

💰 Hexis, a London based AI-driven platform for athletes, announced a £1.6 million ($2 million) pre-seed funding round with participation from APEX Capital and Sport Republic. 

💰Indian esports media platform TalkEsport raised $1 million in a Pre-Series A funding round led by Saswat Ventures. 

💰 NY based provider of a social betting platform, Kutt, raised over $1 million in a round led by Lightning Capital.

💰 Noteefy, golf’s premier automated waitlist solution, raised an undisclosed amount in its seed capital round to accelerate growth of its innovative technology platform, led by Phoenix Capital Ventures.

💰 Matchroom Sport announced a new global partnership with sports marketing agency Pitch International, along with receiving a significant undisclosed investment.

💰 German sports nutrition startup W1NNAS, received an investment of €370 k in a pre-seed funding round. 

🤝 ENVE Composites acquired by Utah-based PV3 Investments from Amer Sports for an undisclosed amount. 

💰 New York-based beehiiv raised $33 million in a Series B funding round with a Sports & SportsTech investor, Sapphire Sport, participating.

Latest from our channels

🎙 #202 MLS Innovation Lab: Incubating the next gen of Sports Tech Companies

This is the last in our series of talking to new sports tech accelerator programs, initiatives and solutions, in lead up to the Global Sports Tech Ecosystem Report 2024. The SportsTech ALLSTARS Podcast Presents- ⁠Christopher Schlosser⁠, Senior Vice President - Emerging Ventures at Major League Soccer.

Chris talks about MLS and its growth, his journey at MLS, about the MLS Innovation Lab, what they look for in startups, how they act as strategic partners and not just financial investors, and what innovations their selected startups are working on. Chris also talks about exciting sports tech trends, their partnership with Apple, what new is coming up for MLS and much more. MLS Innovation Lab is an annual program designed to identify and incubate the next generation of sports tech companies.

🔙 STX Article: Sports Tech supporting the Modern Athlete: From Recruitment to Retirement

✅ STX Monthly: Last month’s sports tech dealflow, in case you missed it.

💪🏽 SportsTech AllStars Recap: Innovation in Sports Organisations