Malmö, Sweden-based deWiz, a startup that helps golfers enhance their game through technology, announced on Thursday that it has secured 43M SEK (approximately €3.9M) in an oversubscribed Series B round of funding.
The company’s original investors group backed the round, which also included new investors like Patrick Rees, founder of Bygghemma, and global deWiz ambassadors Vijay Singh and Annika Sörenstam.
Fund utilisation
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 like basketball and tennis, as well as broader applications across gaming and healthcare.
“Matching our Series-A funding round last year, it’s a testament to deWiz’s potential with this fundraising effort countering the global economic and geopolitical headwinds and expanding the scope of our investors’ group. As we continue to grow, we’re establishing a U.S.-based investment entity and opening up new markets, both for our golf technology globally, as well as new technology solutions for other sports and industries for our patented approaches within wearable tech,” says 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 deliver instantaneous feedback with the swing.
Under development for more than five years, the company’s solution accelerates learning by alerting them in real time while they swing.
According to the company, it tracks the exact position of a golfer’s hands throughout the swing, providing a 3D analysis and delivering data through the app that helps golfers consistently hit the ball longer, straighter, and closer, as well as learn faster with it’s patented Learning Stimuli.
The company also provides a coaching programme 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 programmes, 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 U.S., Canada, Europe, Australia, Japan, South Africa, and South Korea.
“As deWiz continues to push the boundaries of technology and learning, this latest investment round will fuel the continued global growth of our golf swing modifier, which has gained tremendous traction the past year at all levels of the golf industry, spanning instructors, professional tour players and club golfers. This investment round bolsters our deWiz golf business for the future. Next, we will focus on raising additional investment for further development of new applications of our patented, stimuli-based technology,” says Jesper Kärrbrink, Chairman of the Board of deWiz AB.
“Part of the foundation of deWiz’s latest investment round 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 cure their slice. We’ve added a new layer of easily accessible swing data that helps golfers better understand precisely what they are doing in every swing, eliminating the guesswork and providing 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.
