#81 💰 May 2024 Investment Recap

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

TL;DR on the May investment recap: not much action to report. At least there’s more exciting video game news. And a Champions League Final to look forward to. ¡A Por La 15!

Monthly Investment Round Up

May is about done so we’re pulling the trigger on monthly sports tech investment roundup. We’ll miss today’s deals but given how slow this month has been, feels like we won’t miss much.

The data is a snapshot from our SportsTechDB. with only highlights included in this newsletter edition. Head there for more in-depth data.

From the highs to the lows. After April showed great promise by nearly matching the total investment across Q1, May has dampened our spirits slightly. The slowest month for investment so far this year, yup that would do it.

Here’s a quick summary:

• Geography: For a pleasant change, Europe has been the most active region for funding, generating almost 54% of this month’s activity. However, M&A is still dominated by North America, at 80%. 

• Sectors: Solutions 'For Fans’ has finally picked up good funding momentum as anticipated. Not much has been going on for ‘Management & Organization’ solutions which are actually more in demand than you’d think. 

• Top Deals: $38.5 million in funding for UK based Classic Football Shirts. 

Instinctively, we know that reported dealflow is quite a bit lower than the actual dealflow—that’s always been the case. But lately, it feels like the gap between the two is widening.

And that’s mainly because of more bridge rounds, especially as SAFEs or Convertibles. We’ve seen (and participated in) quite a few of those over the last year or so. They’re not as exciting to talk about, of course.

Here’s to hoping that trend changes. We’ll be right here to report on it if it does.

Last weekend of applications for ‘Startup Spotlight India’!

You know the drill by now. If you want a shot at getting your startup featured in the first ever Indian Sports Tech Ecosystem Report 2024 then apply now!

Top News from the World of Sports Tech

⚽ The once-ubiquitous ‘FIFA’ branding will return to video game consoles as 2K Games secured an official license from FIFA. FIFA 2K25 is set to launch later this year, poised to take on industry giant EA FC.

🏎️ Motorsport governing body FIA and sim racing game iRacing have announced an all-new esports series, the FIA F4 Esports Global Championship. Entrants will line up on the grid in September to compete for the $25,000 prize pool.

💻 FIFPRO launched the Player IQ High-Performance Advisory Network (HPAN) to establish a dedicated forum for elite performance coaches to provide feedback on priority topics. 

🎾 Roland Garros introduced head-cams for chair umpires to enhance TV viewing experience, offering viewers a unique perspective on umpire duties and player interactions. 

🏏 Back after it’s successful implementation at the 2023 Men’s Cricket World Cup, ICC TV will again deliver AI supported vertical feed, for the ICC Men’s T20 World Cup 2024. 

🏎️ Infosys announced a three-year partnership with the ABB FIA Formula E World Championship, as its official Digital Innovation Partner, to enable next-gen Fan Experiences Powered by AI and Digital Innovations. 

🔓 Integrity Compliance 360 (IC360) announced the launch of Alert360, a platform aimed at giving players, coaches, officials and other stakeholders an easy way to report harassment without fear of retaliation.

🏎️ NTT continue to improve fan experiences across the NTT INDYCAR SERIES, including this year’s Indianapolis 500 with Smart Venue Technology and AI enabled Racing Insights. 

🏉 Fanatics announced an exclusive partnership with Rugby Australia to become their official online store provider.

Not Sports Tech but you should know:

🚫 Toyota is set to terminate their $835 million Olympic TOP sponsorship. Apparently they are not happy with how the IOC spends on promoting athletes and sports.

⚽ Inter Milan has been taken over by US investment firm Oaktree Capital Management after Chinese owner, Suning, failed to repay a loan now worth €395 million. 

🏍️ The Uttar Pradesh (an Indian state) government stepped in to rescue the MotoGP race in India, assuring the rights holders Dorna that all financial obligations will be met soon; also become the event promoter alongside Fairstreet Sports. 

🎾 The PIF and the WTA announced a multi-year partnership that will support the growth of women's professional tennis and inspire more girls around the world to take up the game.

Money Talks:

💰 Indian digital fitness startup Portl has raised $3 million (appx. INR 25 crore) in an undisclosed round led by Bharat Innovation Fund. 

💰 NY based sports wagering company Pro League Network has raised $2.2 million from investors including NBA star Kevin Garnett. 

💰 US based athlete data startup RootNote, raised $1.5 million in a pre-seed funding round led by Indianapolis-based Elevate Ventures.

🤝 Clubessential, provider of full-suite software solutions to golf clubs, acquired ASB taskTracker, an intuitive golf course maintenance software, for an undisclosed amount. 

🤝 IGN Entertainment, a division of media company Ziff Davis, acquired the Gamer Network for an undisclosed amount. 

🤝 Toronto-based private equity firm, Reichmann Segal Capital Partners, acquired Athletica Sport Systems Inc. for an undisclosed amount as well. 

🎟️ CapStone Holdings Inc., announced the addition of Sports as a major investment focus to its GameAbove Brands with GameAbove Sports. 

💸 Tampa’s Weatherford Capital launched sports private equity platform, Collegiate Athletic Solutions, a purpose-driven, dedicated capital and business-building platform. 

Latest from our channels

🎙 #205 Sportz Interactive: Revolutionizing the sports fan experience!

Asia’s first sports-focused data, technology and content solutions provider with over 20 years of experience for 250+ global clients.

Siddharth Raman, talks about his background and how he became the CEO at Sportz Interactive. We discuss the growth and success stories of SI, having led the sports business space in India for 20 years now. We also talk about the evolution of the sports industry in India and its trajectory ahead. A lot to learn here about navigating this complex sports landscape in the country. 

🔙 STX Article: All New IPL Technology- Smart Replay System to Multicam

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

💪🏽 SportsTech AllStars Recap: Innovation in Sports Organisations