SHOT SCOPE, a leading Scottish golf technology firm, has successfully raised £6.6m in a Series B funding round.
This will significantly boost its plans to deliver game improvement technology to golfers worldwide, allowing them to access in-depth performance analytics.
The funding round was led by Guinness Ventures, which invested £3.1m, alongside contributions from Scottish Enterprise, Growthdeck, The SideBySide Partnership, and Edinburgh-based Equity Gap.
Virgin Money provided an additional £2.4m in debt finance as part of the round.
Founded in Scotland, Shot Scope has established itself as a trusted brand in the UK, with widespread acceptance among key buying groups, green grass retailers, and pro shops.
David Hunter, CEO and founder of Shot Scope, expressed his excitement about the investment: “This investment accelerates our mission to deliver game improvement technology to 60 million golfers around the world.
“Golfers globally love our GPS, rangefinder and shot tracking technology, having sold products in 160 different countries worldwide in 2023.
“With Shot Scope golfers can improve quickly and enjoy the game they love even more.”
Shot Scope plans to use the new capital to expand its subscription-free technology offerings, including GPS wearables, laser rangefinders, and shot tracking devices.
Its mobile app and web dashboard offer a plethora of features, including aerial GPS maps of over 36,000 courses worldwide and more than 100 tour-level performance statistics.
Adam Barker of Guinness Ventures noted: “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.”
Plans are in place to relocate the company to a new headquarters on the outskirts of Edinburgh to accommodate its growing team and support its ambitious expansion plans.
Currently, Shot Scope products are available at major retailers in the US, Europe, Australia and New Zealand.
The brand’s presence in the US golf industry is further bolstered through partnerships with the PGA of America’s Golf Retirement Plus program and the TROON Golf Network.
The company wants to continue replicating its success globally.
Christopher Kennedy, director of venture debt at Virgin Money, said: “Shot Scope is an established leading technology business within the golf market and has been a valued customer within our venture debt portfolio of high-tech businesses for the last three years.
“Over that period we have built a strong relationship with the team at Shot Scope and we are pleased to provide this follow on funding as the business continues to grow.
“It’s exciting to see what the future holds as Shot Scope’s expanded suite of products increases further in popularity in markets across the world.”
Kerry Sharp, director of entrepreneurship and investment at Scottish Enterprise, said: “Shot Scope continues to reach impressive milestones with its innovative golf technology.
“As a longstanding investor, we’re excited to see the company make progress towards its global scaling ambitions.”
With this capital, Shot Scope is poised to enhance the playing experience for 60 million amateur golfers worldwide, reinforcing its position as a leader in golf technology.
