#99 💰 Q3 Tops 2024 for Sports Tech Investment

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A strong finish is a good start. That’s what September was for Q3 2024, hopefully signaling a shift in momentum in the sports tech investment landscape.

We’re gearing up for a strong finish to the year ourselves. The 2024 VC Report and our latest offering - Sports Tech Bootcamp - will both go live in November. Limited spots available for each, so get in touch / apply soon if interested.

As always, have a great weekend!

Sports Tech Monthly Investment Roundup: September 2024

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

A solid close to what has been by far the best quarter for sports tech dealflow, for investment and M&A. Even though September was the lowest month of the quarter, it was still higher than any month in the first 6 months of the year.

It might still be a bit early to call, but it feels like the tide is starting to rise for the sector again—an event many sports tech boats have been eagerly awaiting. Including us at SportsTechX, finally we have some solid material to work with for our upcoming VC report!

Here’s a quick summary:

• Geography: European market with the maximum activity in both dealflow and M&A.

• Sectors: ‘Activity & Performance’ solutions have taken over for this month, with 96% of funding in that sector. Well to be fair, EGYM, the biggest deal of the month constitutes most of that.

• Top Deals: $200 million in funding for EGYM and $2.6 billion acquisition of Snaitech by Flutter.

Get Featured: Sports Tech VC Report 2024

If you are:

• Launching a new product / service

• Opening a funding round

• Making a big announcement

• Looking to increase your visibility in the Sports Tech community amongst investors, sports organisations, innovation initiatives and experts

… then a feature in our content could be the ideal way to amplify your message.

In early November we will publish the latest Global Sports Tech VC Report. If you haven’t seen it yet, check out the 2023 edition.

Get your product/ announcement/ startup/ fund/ initiative in front of 50k+ social impressions and 2k+ downloads.

Applications Open: SPORTS TECH BOOTCAMP!

A 'No BS' guide to the current state of innovation in sport. At an inaugural offer price of € 649.

Only 10 seats in the first edition and they’re getting filled fast. Get your application in quick!

Application Deadline: 1 November, 2024 / till seats filled.

Top News from the World of Sports Tech & Biz

⚽ Manchester United partners with SCAYLE to launch their new e-commerce platform, enabling transactions across multiple languages and currencies.

⚽ Major League Soccer Innovation Lab unveiled its second cohort with six new companies – Edge Sound Research, OLIVER Sports, Soccerment, Sportlight, Lubu Technologies, and Wicket.

📣 Ballogy Inc. and  AquaBloom International Sports Technology Group (ABSG), announced a special event showcasing the latest tech advancements in player development and their positive global impact.

🎮 The Asian Chess Federation (ACF) announced their news initiative echess at the FIDE Olympiad in Budapest. Their goal: to drive the narrative that esports and chess should be an official IOC-recognized sport.

🎦 Pixellot released Air NXT: The Next Generation of their multi-sport, portable AI camera. The FIBA approved Air NXT comes with an array of enhanced features for a wide range of sports.

🏀 ASB GlassFloor will provide the center stage for the Big Blue Madness College Hoops Tourney at University of Kentucky’s Rupp Arena.

📣 The Chiliz Group launched Chiliz Sports – an independent division that will focus on leveraging the Group’s position as a pioneer in the SportFi ecosystem and its network in sports and tech to explore synergies and foster business opportunities for both industries.   

🏆 KKFI along with the International Kho Kho Federation announced that the first edition of the Kho Kho World Cup will be held in India in 2025. It’ll feature 16 men's and women's teams from 24 countries and six continents. 

🤝 SportsTechX is thrilled to announce its new role as the "Official Research Partner" at the International Sports Technology Association. This landmark partnership marks a significant milestone in both organizations' commitment to advancing the future of sports technology through market leading research.

Money Talks:

💰 Fitogether, a South Korean sports tech company, secured an investment of KRW 9.7 billion ($ 7.2 million) from new shareholders. 

💰 Indian Sports tech startup, Str8bat, raised $3.5 million (Rs 29.3 crore) in a Series A funding round led by Exfinity Venture Partners.

💰 Brace, an Irish digital health startup, closed a round of € 220K ($243K) in funding from Enterprise Ireland’s Pre-Seed Start Fund and angel investors.

💰 Russian startup YouChip raised 12 million rubles ($127k) from the president of the All-Russian Physical Culture and Sports Society "Labor Reserves"  Ilya Galae. 

🤝 MLS announced an investment & partnership with media platform OneFootball, which will see OneFootball broadcast MLS, MLS NEXT, and MLS NEXT Pro highlights.

🤝 Eversports, the Vienna-based software business, was acquired by Verdane, a European growth investor, for an undisclosed amount.

💰 Otro Capital and Bolt Ventures announced a strategic investment of an undisclosed amount in Two Circles, alongside Charterhouse Capital Partners. 

Latest from our channels

🔙 STX Article: The Rise of Esports- Transforming the Future of Competitive Gaming.

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

💪🏽 SportsTech AllStars Recap: Innovation in Broadcasting Tech