Edinburgh-based Shot Scope, which helps golfers improve their on-course strategy, has raised $8.5 million in a Series B funding round led by Guinness Ventures, with participation from Scottish Enterprise, Growthdeck, The SideBySide Partnership, Equity Gap, and Virgin Money.
- Founded in 2014 by David Hunter, Shot Scope offers GPS wearables and laser rangefinders for golfers to improve distance access, record over 100 statistics, and analyze rounds. With over 350 million shots collected, these products save golfers an average of 4.1 strokes.
- The startup's mobile app and web dashboard include free tools like aerial GPS maps, tour-level performance statistics, and MyStrategy, which complement physical products and data-driven strategy development.
- Shot Scope operates in Europe, Australia, and New Zealand, where retailers like Dormy, Golfbox, Golf Warehouse, and PGC Group sell their products.
Details of the deal
- The Series B funding round was led by Guinness Ventures, a London-based venture capital firm that invested $4 million in this round. The firm supports early-stage businesses and has a portfolio of 42 startups, 75 investments, and 14 successful exits, including ContentCal, The Kensington Park Hotel, and Novia CHP.
“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," Senior Associate at Guinness Ventures, Adam Barker, commented.
- The investment also received capital from Glasgow-based VC Scottish Enterprise, Growthdeck, The SideBySide Partnership, a London-based venture capital firm, and Edinburgh-based Equity Gap. Additionally, Virgin Money provided $1.9 million in debt financing as part of the funding.
- The fresh funding will enable Shot Scope to expand its workforce, particularly in the marketing, sales, and customer service teams. Furthermore, it will help scale operations globally and deliver game-changing technology to a worldwide audience.
“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," CEO and founder of Shot Scope, David Hunter, stated.
