Sports tech start-up Wingfield closes €4.0 million in Series A Funding, targets to further grow its business in Europe and expand to the US market.
Hanover (Germany), 3rd June, 2022 – The sports tech company Wingfield, which has developed a technology to convert tennis courts into smart playing fields, announced today that they raised €4.0 million in their Series A financing round. While the existing investors leAD Sports & Health Tech Partners and Hannover Beteiligungsfonds committed earlier in 2021, underlining their strong belief in the rising tech company, the final round was led by the new investors bmp Ventures with the IBG-Fonds and adesso ventures.
Expansion in Europe and the US as the next big milestones
The investment will primarily be used to further grow Wingfield’s business in Europe, expand it to the US market and to improve the overall product experience for tennis players and facilities. Maik Burlage, Founder & CEO of Wingfield said: “We have used the last two years to further improve our products and to initiate important partnerships, such as with the German Tennis Federation. However, we are only at the beginning of our journey. Despite the impact COVID-19 had on our industry, the last two years have shown that there is a huge demand for our products. We are noticing that tennis clubs are increasingly under pressure to not only digitise their administration but also rethink their offerings according to changing customer demands. Club boards are getting younger and more tech-savvy and are now seeing the need to respond to these changes. The new capital puts us in a position to meet this demand and continue to grow in our core markets and the US.”
Tennis on the rise
Tennis is currently experiencing a positive growth trend – also in Germany, for example. Despite the Corona pandemic, the German Tennis Federation (DTB) has recorded rising membership figures for the first time since 1995. While 1,366,137 people still belonged to a tennis club in 2020, the number of club members playing tennis has increased by around 17,000 – and these are only the formally organised players.
Market leader in Europe with well-known customers
After being founded in late 2017 and its Go to market back in early 2019, Wingfield has become the European market leader in tennis tracking technology operating in 16 countries. The technology is used by over 250 facilities on more than 300 courts reaching over 20.000 players across Europe – from common tennis clubs, performance academies, recreational sports centers, hotel operators to country clubs and colleges. In addition, leading global racket and apparel brands use Wingfield’s data to test and demo their new product lines.
Famous names such as the Rafa Nadal Academy or the Queens Club in London can be found among Wingfield’s customers. Back in 2019 Wingfield was used on the grass-courts of the prestigious All England Club at Wimbledon, during their Road to Wimbledon junior tennis tournament. You can find all Wingfield clubs here.
Team of Wingfield