Output Sports which is a corporate realignment of Irish Sports Tech Startup and University College Dublin, has revoked €1.3m from working capital grant.
Although the major contributor in the financing was Atlantic Bridge University Fund, they were accompanied by Elkstone Partners, Enterprise Ireland, Angel Investor, Adam Byrne and Dan Leavy from Leinster Rugby and Curám Software who has also financed the company.
Output sports was established by Dr Martin O’Reilly, Dr Darragh Whelan, Julian Eberle and Prof Brian Caulfield in 2018. The head office was located at NovaUCD. The organization is an alliance of UCD School of public health, and The Insight – SFI Research Centre for Data Analysis.
Now the Startup has shifted its focus to Tech Sport Gadgets and related analytical markets.
Scheme for the Investment
The Company has claimed that, more than 40 professional squads have been using the technology, comprising of international football teams, premier league clubs, and Olympic participants from Ireland, USA and UK and professional rugby organizations.
Output sport aims utilize the working capital investment to enhance their growth to elite and sub elite sports in United Kingdom and European nations, and strengthening the existing collaboration in US sports industry.
The Funding will help the Irish company to increase the R&D and Technology manpower, to enhance the current products and maintain consistent progress in the product planned by the company.
Output sports CEO, O’ Reilly said “After six years of research in UCD, it is incredibly exciting to reach this pivotal milestone of seed investment. We are invigorated to be backed by such as diverse set of investors, each bringing their own unique value to the Output mission.
“As a company, we believe greatly in the importance of interdisciplinary collaboration. This funding will enable us to build our team who have skills and expertise in business development, sports science, engineering, data science, strength and conditioning, and physiotherapy. In the coming months, the company will grow to a team of nine based at NovaUCD.
‘The Capacity to evolve sportsmen performance’
The Start-up is willing to develop a Output Hub, which will help team officials, mentors, and player to analyze, evaluate and maximize their progress by training, rehabilitation programmes and strengthening them
The information gained from the newly developed hub with the help of artificial intelligence and the data from wearable sensor collected by the Output will unveil the new crucial indicator for performance, factors affecting the injury-risk and systematic development of workout programme.
Dan Leavy from Leinster Rugy league said: “Output Sports initially reached out to me and the company’s novel technology helped me on my road to recovery.
“They combine an exciting team of young, motivated researchers and entrepreneurs with an ambitious vision to not only improve athlete optimisation processes in elite sports, but also to bring the advantages of pro-sports technology to an extensive audience than possible.”
Sr. Director Investment of Atlatic Bridge, Dr. Helen McBreen, who will be new member of Output’s Board added that the company’s “unique and proprietary technology platform has the potential to revolutionize athletic performance measurement and analytics, and serve an enormous and emerging worldwide sport performance marketplace”.
She also said that: “The organisation strongly signifies the commercial power of the first-class research proceeding at UCD and demonstrates how Atlantic Bridge can speed up initial-stage corporations globally,”
All of this has been reported with in few days of the announcement made by Sony that it has financed a sports intelligence firm namely Kitman Labs, based in Dublin. The Company has also been supported by former captain of Irish Rugby team, Jamie Heaslip.