Edinburgh’s in-house venture capital fund, Old College Capital, has joined an investment round for golf technology start-up Shot Scope Technologies.
The company has announced that it has received investment of £415,000 to launch its wearable performance tracking technology for golfers to the US and UK markets.
Business angel syndicate Equity Gap led the deal and was joined by two other investors - the Scottish Investment Bank, which is the investment arm of Scottish Enterprise, and Old College Capital.
Shot Scope will use the investment to build its team, complete product development and start manufacturing ahead of launch in January 2016 at the global golf industry’s annual gathering, the PGA Merchandise Show in Florida.
Aimed at golfers of all levels who want to improve their performance, Shot Scope’s patent pending technology automatically collects scoring and statistical data as a golfer plays.
On completion of a round, data is uploaded to the Shot Scope website or mobile app where statistics, analytics and maps detailing every shot are displayed in a graphical user interface.
Smaller than an average wristwatch, the technology does not require the golfer to push buttons or perform any actions that would interrupt their game. Shot Scope’s technology does not need beacons to be installed at courses and cannot be replicated by a smartphone app.
Shot Scope was founded in 2014 by David Hunter, who completed a Professional Graduate Diploma in Education at Edinburgh the previous year.
An electronics design engineer with seven years of industry experience, he was working as a secondary school teacher when he set up the company.
A keen golfer, Hunter understands the desire to learn from mistakes and improve play.
Shot Scope is based at the Edinburgh Technology Transfer Centre, the incubation centre at the University’s Kings Buildings campus.
David says he is grateful for the support he has received from the Scottish start-up community and organisations like Scottish Enterprise and LAUNCH.ed, the University’s student enterprise education programme.
Shot Scope is a fine example of the high calibre talent amongst the student population at The University of Edinburgh. We are pleased to welcome this company to Old College Capital’s portfolio, joining Equity Gap and the Scottish Investment Bank in their support.