Shot Scope, an Edinburgh-based golf technology company, has raised €7.8 million in a Series B funding round led by Guinness Ventures, contributing €3.69 million. Other key investors include Scottish Enterprise, Growthdeck, The SideBySide Partnership, and Equity Gap, with Virgin Money providing €1.75 million in debt financing.
David Hunter, CEO and Founder of Shot Scope, expressed his enthusiasm for the new investment: “This funding accelerates our mission to deliver game-improvement technology to 60 million golfers worldwide. In 2024, we plan to expand our 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 countries in 2023. Golf has experienced significant growth over the past five years, appealing to all ages and demographics. With Shot Scope, golfers can improve quickly and enjoy the game they love even more.”
The Series B funding will enable Shot Scope to enhance its subscription-free game improvement technology, which includes GPS wearables, laser rangefinders, and shot tracking devices. These products offer golfers comprehensive performance analytics through Shot Scope’s mobile app and web dashboard, providing tools for a more engaging experience and skill improvement.
Adam Barker from Guinness Ventures highlighted the company’s potential: “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 support Shot Scope at this crucial growth stage.”
Founded in Scotland, the home of golf, by CEO David Hunter, Shot Scope has established itself as a trusted brand in the UK, gaining acceptance from key buying groups, green grass retailers, and pro shops. With products readily available across the UK, the company now aims to build the same trust globally.
To support this expansion, Shot Scope is relocating to a new headquarters on the outskirts of Edinburgh. This move will accommodate their growing team of marketing, sales, and customer service experts, enabling them to scale operations and deliver innovative technology to a global audience.
In the US, Shot Scope products are already available in major retailers such as Dick’s Sporting Goods and PGA Tour Superstore. The brand continues to gain traction with green grass retailers across various states. Partnerships with the PGA of America’s Golf Retirement Plus program™ and TROON Golf Network have further bolstered Shot Scope’s presence and credibility within the US golf industry.
With this new funding, Shot Scope is poised to make significant strides in the golf technology sector, bringing advanced, user-friendly tools to golfers around the world, enhancing their experience and improving their game.
