Companies like Ouput Sports and Kitman Labs finally manage to get new funds.
Sports Technology is going through its high time in Ireland in terms of investments as huge funds are glowing in. This week, a startup based in Dublin called Kitman Labs, which analyses sports data made an announcement regarding receiving funds from none other than Sony’s very own venture arm. As the reports suggest, the company has claimed to secure €439,000 in funds through Sony Innovation Fund’s investment.
Chief Executive Officer of Kitman Sports, Stephen Smith, claimed that this was one of the investments secured last year. However, Sony’s name was disclosed just now.
“From our perspective, we are looking for major global strategic partners that can help us to continue to grow and expand all over the world,” Stephen Smith said. “There are few companies with the reach of Sony.”
Sony launched its Sony Innovation Fund back in late 2016. This fund serves the purpose of investing in Artificial Intelligence, Robotic and IoT startups. Lynq and Promethera Bioscience are some of the major startups that received funding from this program.
“They don’t look at us as a sports company, they look at us as a data company. They look at the world of performance and the world of health and how both of those are converging,” Smith said.
Output Sports is another sports technology company that works on data analysis. This is a company based In Dublin and it managed to raise €1.3 million this month frim funds in Ireland like University Bridge, Elkstone Ventures and Ireland’s Rugby star Dan Leavy. Output Sports works on developing wearable smart sensors for sportspersons and athletes. Data is gathered from the Athletes wearing these sensors.