South Africa’s Sportable raises $15m Series A to scale
HAVAÍC, a Cape Town-based venture capital firm, is investing $1 million in Sportable as part of a $15 million Series A funding round. The startup deploys Micro-Tracking (MT) technology to enhance data collection and analysis in ball and contact sports, with a focus on rugby, soccer, and American football.
The MT modules, integrated into balls and worn by players, are tracked by Radio Frequency (RF) beacons around the field to accurately collect and process data. The wireless hardware and cloud-based platform can be set up and broadcast-ready within 90 minutes, providing near-zero latency for game analysis. Sportable's partners leverage the insights delivered through APIs and event streams to generate actionable real-time data.
This investment is expected to enable Sportable to further extend its successful partnerships with major international tournaments, including the Six Nations Rugby Championship, as well as global ball manufacturers, media companies, and sporting leagues. The funding will support the company's growth and development as it continues to innovate in the sports technology space.
Key Takeaways
The latest Sports Global Market Report by The Business Research Company highlights that the global sports market is valued at $512 billion in 2023, with a compound annual growth rate of 5.2%. In this landscape, Sportable plays a significant role by empowering various stakeholders in the sports industry, including sporting leagues, teams, players, media entities, sponsors, betting companies, and fan applications, to enhance performance across the value chain. Sportable's contribution is notable as it aligns with a growing trend of African-born technology companies operating on a global scale while simultaneously reinvesting in Africa. The company is actively creating skilled employment opportunities and contributing to local economies. Currently, Sportable is in the midst of a recruitment drive to expand its team based in Cape Town. With offices in London, Melbourne, and Cape Town, Sportable, led by CEO Dugald Macdonald and CTO Peter Husemeyer, is establishing a growing global footprint in the sports technology sector.
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