Finland’s SportIQ secures $6.2 million Series A to expand smart ball technology

SportIQ has raised $6.2 million in a Series A round to expand its connected sports ball technology into new markets and applications. The round, completed in two closings, included $3.2 million in fresh capital from KB Partners, Koppenberg Management, Match Ventures, Tera Ventures, along with a group of high-net-worth individuals and family offices. The new funding will support international expansion, further development of its hardware and analytics platform, and adaptation of its sensor technology for use in other ball-based sports.

SportIQ is a Los Angeles– and Helsinki–based sports technology company developing sensor-enabled ball tracking systems and analytics software. Its core product integrates an in-valve sensor into a basketball to capture data such as shot location, angle, and force, which is analyzed through a companion mobile application. The company holds more than 25 patents related to its hardware and data processing technology and has recorded over 25 million tracked shots to date. In addition to consumer training products developed in partnership with Spalding, SportIQ has participated in NBA Launchpad to test applications of its tracking technology in professional basketball settings.

“This round allows us to scale what we know already works. We have strong consumer demand, proven technology, and growing adoption at the professional level. These fresh funds will help us expand into new international markets, business models, and sports beyond basketball. Our new investors share our vision and understand how big the demand for our technology is, and we are ready to scale at speed,” says Erik Anderson, CEO of SportIQ.

SportIQ’s patented smart basketball uses a sensor in the ball’s valve to track a player’s shooting performance. The ball feeds data about shooting position, power, angle, and technique, amongst other things. The mobile app’s AI technology analyzes the data and provides players with direct feedback and tailored coaching to improve their performance. The ball, together with a one-year subscription, is only one-tenth of the price of an average basketball coach. This allows people of all ages to have fun with their friends, exercise without even noticing it, and improve their skills without breaking the bank.

To date, SportIQ has already tracked over 25 million shots, helping players improve their shooting accuracy by 15% with regular use, and the company holds over 25 patents on its technology. SportIQ’s and Spalding’s TF DNA Smart Basketballs are available online, and the company already sells tens of thousands of balls to consumers yearly.

“What SportIQ has built goes far beyond a ‘smart ball.’ It’s a full-stack platform that combines hardware, software, and analytics to make both training and play more engaging and effective. We’re proud to continue supporting the team and to double down as the company scales,” says Steve Ahern, Partner at KB Partners.

Now, SportIQ aims to expand its product lines and technological capabilities to increase the possible revenue streams and usage cases. New basketball products are in the pipeline, but the company is also developing technology for use in other sports, as its sensor technology can be fitted into any kind of ball used in recreational and professional sports. SportIQ’s vision is to make every ball in the world a smart ball.

“We are partnering with the biggest brands in sports to bring intelligence directly into the ball without changing how the game is played. Our in valve sensor is completely invisible to athletes, which unlocks new consumer and professional applications that were not possible before. This is how every sports ball becomes smart,” says Harri Hohteri, CPO and Founder of SportIQ.

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