Venture capital firm Havaic has announced it has made its first investment in Sportable.
Havaic contributed $1 million as part of a $15 million series A investment round.
Founded in 2016 by two South Africans, Sportable deploys micro-tracing technology to enhance data collection and analysis in contact sports, particularly rugby, soccer, and American football.
How does it work?
MT modules are fitted inside balls or players and are linked by radio frequency beacons around the field to accurately capture and process data.
The cloud-based setup can be broadcast within 90 minutes to analyze games with near-zero latency.
The global sports market is worth 512 billion in 2023, and growing at a compound annual rate of 5.2% according to analysts, and the investments is expected to allow Sportable to expand its partnerships.
The investment will likely allow Sportable to expand its successful partnerships with leading international tournaments, including the Six Nations Rugby Championships as well as global ball manufacturers, media companies, and sporting leagues.
CEO Dugald Macdonald is a former NASA engineer with two master’s degrees from Oxford University, while CTO Peter Husemeyer is a former investment analyst.
Sportable joins a growing cohort of African-born technology companies that operate globally and reinvest in Africa by creating skilled employment and bolstering local economies.
The team is currently on a recruitment drive to grow its Cape Town-based team.
Managing partner at Havaic, Ian Lessem says the teams’ reach into the big leagues with brands across rugby, American football, and soccer is impressive.
This was seconded by McDonald who said they look forward to tapping into Havaic’s unique insight network investing approach.
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