Shot Scope raises $8.5m in Series B funding led by Guinness Ventures to expand international operations
Guinness Ventures led the round, with additional backing from Scottish Enterprise, Growthdeck, The SideBySide Partnership, Equity Gap, and Virgin Money.
≈ £6.6M at $1 = £0.7809 on 2 Aug 2024
Edinburgh-headquartered Shot Scope develops performance tracking hardware and software for golfers, combining GPS wearables, laser rangefinders, and analytics.
Edinburgh-based golf technology company Shot Scope has raised $8.5m in a Series B funding round led by Guinness Ventures, which contributed $4m. Additional backing came from Scottish Enterprise, Growthdeck, The SideBySide Partnership, and Equity Gap, alongside $1.9m in debt finance from Virgin Money.
The capital will support the company as it relocates to a larger headquarters near Edinburgh and expands its product offerings to golfers worldwide. Shot Scope intends to scale its operations to meet growing international demand for its subscription-free GPS devices and performance analytics platforms.
Founded in 2014, the firm creates hardware and software designed to record on-course statistics and assist players in lowering their scores. The business has distributed products across numerous international markets and plans further infrastructure investments, particularly within the United States.
From the founder
"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. Golfers globally love our GPS, rangefinder and shot-tracking technology, having sold products in 160 different countries worldwide in 2023. Golf has experienced a huge change in the past 5 years, people of all ages and demographics love the sport. With Shot Scope golfers can improve quickly and enjoy the game they love even more."
David Hunter
CEO and Founder at Shot Scope
Investor perspective
"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"
Adam Barker
Guinness Ventures
Use of funds
- 01Expand into international markets
- 02Build out infrastructure
- 03Scale operations
Investors
Adam Barker
Guinness Ventures
Kerry Sharp
Scottish Enterprise
Growthdeck
The SideBySide Partnership
Equity Gap
Christopher Kennedy
Virgin Money
About the company
Shot Scope
Shot Scope provides GPS wearables, laser rangefinders, and shot-tracking devices to help golfers improve their game.