Photon Sports raises new capital – gets set for growth
Sports tech company Photon Sports takes the next step in its ambition for market expansion and the development of next generation fitness tests. New capital was recently raised in an investment round, the amount was 19 million SEK. The company welcomes the new part-owner, family owned Pulsen Group. They enter as lead investor and strategic partner. “It feels fantastic,” says Anders Tånger, incoming CEO and former marketing manager at Photon Sports.” Pulsen Group adds relevant knowledge and experience in strengthening our digital presence. This creates a strong foundation for continued growth.”
Having completed the investment round, Photon Sports is now taking steps to grow the business. This includes growth in customers, geographical markets and sports segments. Simultaneously, the company is working to develop the next generation of fitness tests.
From the start, Photon Sports has received a lot of attention for its product that helps athletes continuously track their ability and develop skills. The product measures qualities such as speed, reaction time and explosiveness with 3D cameras and advanced sensor technology.
The solution has initially been launched for football, where more and more clubs have opted for the unique technology. This includes all teams in the OBOS Damallsvenskan, the top tier league for women’s football in Sweden.
Family-owned Pulsen Group is the latest addition to an already strong ownership group, which also includes Hanna Marklund, Treac and Partnerinvest. Pulsen Group is active in IT, house manufacturing and a number of other industries. Their expertise in entrepreneurship and communication adds value to Photon Sports.
“We are very happy about the collaboration as Photon Sports is in an exciting phase. We at Pulsen Group can contribute to developing both the business and the brand,” says Jonus Bartholdsson, CEO of Pulsen Group, which will take a place on the board of Photon Sports. “We have been strongly rooted in football for many years, for example through the collaboration with the organization Elitfotboll Dam. We recognize the enormous significance that Photon's product can have for clubs and players both in Sweden and in other parts of the world.
As part of the continued development, the group of owners has provided SEK 19 million to finance growth.
“We have gained important knowledge through our many Swedish customers sharing their experiences of the product. Now we want to scale up Photon Sports and reach more users in Europe as well,” says Anders Tånger. “There is a great need to simplify the work process linked to fitness tests and here we have a strong offer to help achieve that.
“Furthermore, we also see the opportunities to develop the next generation of physical tests. With new capital and the new shareholders in Pulsen Group, we can increase our pace and work in parallel with product development and growth as we make the technology available in more markets. In addition to our matching values, we complement the group of owners with additional expertise and I look forward to our journey together.”
In recent development at Photon Sports, well-qualified football professional Michael Almebäck was recruited. He decided to put the end of his professional footballing career to invest in Photon Sports and work in sales and marketing. He becomes the second former football professional on the Photon team, after Hanna Marklund.