Sweden-based deWiz bags €3.9 million to help golfers improve their game with wearable technology
Malmö, Sweden-based deWiz, a startup that helps golfers improve their game through technology, announced Thursday that it has secured SEK 43 million (about €3.9 million) in an oversubscribed Series B funding round.
The company’s original investor group backed the round, which also included new investors such as Patrick Rees, founder of Bygghemma, and global deWiz ambassadors Vijay Singh and Annika Sörenstam.
Utilization of the fund
The Swedish company says it will use the funds to showcase its wearable swing-modifying technology through marketing, global expansion, continued product development and hiring talent.
deWiz AB also plans to enter new verticals, including sports such as basketball and tennis, as well as broader applications in gaming and healthcare.
“Matching our Series-A funding round last year, it is a testament to deWiz’s potential with this fundraising effort that counters global economic and geopolitical headwinds and expands the scope of our investor pool. As we continue to grow, we are establishing a US-based investment entity and opens up new markets, both for our golf technology globally, as well as new technical solutions for other sports and industries for our patented approaches in wearable technology, we say Christian Bergh, co-founder and CEO of deWiz AB.
deWiz: What you need to know
Founded by Markus Westerberg and Christian Bergh, deWiz has developed a training assistant to help golfers provide instant feedback with their swing.
In development for more than five years, the company’s solution accelerates learning by alerting them in real time as they swing.
According to the company, it tracks the exact position of a golfer’s hands throughout the swing, provides a 3D analysis and delivers data through the app that helps golfers consistently hit the ball longer, straighter and closer, as well as learn faster with the patented Learning Stimuli.
The company also provides a coaching program that teaches professionals by providing them with actionable real-time data that they can apply to their practice.
The company’s Coaches Program benefits include affiliate revshare programs, access to advanced data and dedicated onboarding services for certified golf instructors.
Currently, the Coaches Program has partnerships with the LPGA Professionals, the PGA of Sweden, the PGA of Germany and the Southern California PGA of America Section.
deWiz is available in the US, Canada, Europe, Australia, Japan, South Africa and South Korea.
“As deWiz continues to push the boundaries of technology and learning, this latest round of investment will fuel the continued global growth of our golf swing modifier, which has gained tremendous traction over the past year at all levels of the golf industry, including instructors, professional tour players and club golfers . This investment round strengthens our deWiz golf business for the future. After that, we will focus on bringing in additional investments for the further development of new applications of our patented, stimuli-based technology,” says Jesper Kärrbrink, chairman of the board of deWiz AB.
“Part of the basis for deWiz’s latest round of investment has been the enthusiasm within the golf industry for deWiz Golf’s innovative swing data as we continue to introduce it to coaches and golfers, from the world’s elite to beginners trying to heal their lot. We’ve added a new layer of readily available swing data that helps golfers better understand exactly what they are doing in each swing, eliminates guesswork and gives them tangible data points to hit the ball longer, straighter and closer, says Markus Westeberg , co-founder and Chief Product Officer of deWiz Golf AB.
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