HAVAÍC, a venture capital firm based in Cape Town, is investing $1 million (R18.8 million) in Sportable’s Series A funding round, which aims to raise $15 million (R283 million).
Sportable, founded by two South Africans in 2016, utilizes micro-tracking technology for improved data collection and analysis in ball and contact sports, notably rugby, soccer, and American football.
This investment by HAVAÍC, its first in Sportable, makes it the only African investor in this round. Other contributors include US-based Ryan Sports Ventures and Australian fund XV Capital, led by Stirling Mortlock and James Godfrey.
The funding will enable Sportable to broaden its collaborations with international tournaments, such as the Six Nations Rugby Championship, and partner with global ball manufacturers, media firms, and sports leagues, according to a statement.
Sportable, under the leadership of CEO Dugald Macdonald and CTO Peter Husemeyer, is expanding its global presence, maintaining offices in London, Melbourne, and Cape Town.
The team’s reach into the big leagues and brands across rugby, American football and soccer is impressive.
Ian Lessem, HAVAÍC Managing Partner
Sportable has a combination of experience, far-reaching connections and a product with potential to scale, he adds. “As champions of African tech innovation with global prospects, Sportable 100% hits the mark for HAVAÍC.”
Macdonald notes Sportable looks forward to tapping into HAVAÍC’s insights, networks, investing approach and experience, as it is a steady partner to help navigate the opportunities and challenges of scaling technology across borders.
According to the latest Sports Global Market Report, the global sports market is this year worth $512 billion, growing at a compound annual rate of 5.2%.
Sportable aims to empower industry players, including sporting leagues, teams, players, media, sponsors, betting companies and fan applications, to improve performance along the value chain.
Its micro-tracking technology modules fitted in balls and on players are plotted by radio frequency beacons around the field to capture and process data.
The wireless hardware and cloud-based platform can be set up and broadcast-ready within 90 minutes to analyze games with near-zero latency, it claims. Partners use the insights delivered via APIs and event streams to produce actionable real-time data.
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