deWiz AB Completes Series B Funding to Support Golf Wearable Technology Business

MALMÖ, Sweden–(BUSINESS WIRE)–deWiz AB concluded its current Series B funding round with more than SEK 43 million (nearly USD 4 million) of new investments dedicated to its deWiz Golf business. The oversubscribed investment will leverage deWiz’s portable swing modification technology through additional marketing, additional global expansion, continued product development and staff augmentation to support future growth. Additionally, with financial support secured for the golf vertical market, deWiz AB can continue to expand into new vertical markets, including sports such as basketball and tennis, as well as broader applications in gaming and Healthcare. The Series B funding round was backed by the original group of investors and includes new investors like Bygghemma Founder Patrick Rees and deWiz Global Ambassadors Vijay Singh and Annika Sörenstam.


“As deWiz continues to push the boundaries of technology and learning, this latest round of investment will fuel the continued global growth of our golf swing modifier, which gained tremendous momentum last year at all times. levels of the golf industry, from instructors to club golfers to professional tournament players. This round of investment strengthens deWiz’s golf business for the future and we will then focus on mobilizing additional investment for the development of new applications of our patented stimuli-based technology,” says Jesper Kärrbrink, President of the Board of Directors of deWiz AB.

“Confirming our Series A funding round last year, this speaks to the potential of deWiz, with this fundraising effort aimed at countering global economic and geopolitical headwinds and expanding the reach of our investor pool. As we grow, we are establishing a US-based investment entity and opening up new markets, both for our golf technology globally and new technology solutions for other sports and industries, with our patented approaches to wearable technology,” says Christian Bergh, co-founder and CEO, deWiz AB.

“A fundamental part of deWiz’s latest investment cycle is the excitement within the golf industry for deWiz Golf’s innovative swing data as we continue to introduce it to coaches and golfers alike. world elite to beginners trying to improve their slice. We’ve added a new layer of easily accessible swing data that helps golfers better understand precisely what they’re doing on every swing, taking the guesswork out of it and giving them tangible data points to hit the ball longer, longer. straight and closer,” says Markus Westeberg, co-founder and chief product officer, deWiz Golf AB.

DEWIZ GOLF, HOW IT WORKS: In development for over five years, deWiz tracks the exact position of a golfer’s hands throughout the swing, providing 3D analysis and data through an easy-to-use app that helps golfers strike the ball from more consistently and longer, straighter and closer, and learn faster with deWiz’s patented Learning Stimuli™. For videos on all of deWiz’s groundbreaking features, educational webinars and testimonials from ambassadors, visit the deWiz YouTube channel.

DEWIZ COACHES PROGRAM: The Wiz Coaches program offers teaching professionals an innovative new approach to coaching by providing students with real-time, actionable data they can apply to their own practice, seamlessly monitoring their progress between lessons. Benefits of the Wiz Coaches program include affiliate revshare programs, access to advanced data, and dedicated onboarding services for certified golf instructors. For more information, inquire about the Wiz Coaches program or email [email protected] Currently, the Wiz Coaches program has professional partnerships with the LPGA, PGA of Sweden, PGA of Germany and PGA of America, Southern California Area.

DEVELOPED BY EXPERTS, TESTED BY PROS: Wiz’s list of Global Ambassadors currently includes 10-time Major Champion Annika Sörenstam; Vijay Singh, three-time major champion; Bryson DeChambeau, US Open champion since 2020; Henrik Stenson, 2016 Open champion; Yuka Saso, 2021 US Women’s Open champion; Lanto Griffin, 2019 Houston Open champion; Two-time World Long Distance Champion Tim Burke and former PGA of America National Teacher of the Year Martin Hall.

A TECHNOLOGY THAT MAKES THE BUZZ: Launched last summer, deWiz made the “buzz” and Forbes described it as seeking to “propel the golf training aid market”; it has been featured in Sweden’s leading financial media, Dagens Industri ; reviewed in On the Mark Podcast with Mark Immelman; and featured by Global Golf Post, Golf Monthly’s Editor’s Choice and Business Insider. Furthermore, Golf.com described how Vijay Singh uses deWiz to lengthen his backswing, how Annika Sörenstam uses deWiz to monitor her tempo, and how Yuka Saso uses deWiz to adjust her wedge.

ABOUT DEWIZ AB: As a global leader in stimulus-based motor learning, deWiz empowers gamers to unlock their potential and achieve their goals through groundbreaking data and technology. As a product developed and manufactured in Sweden, deWiz Golf AB is focused on its mission to help golfers around the world increase their enjoyment of the game through innovative technology that increases their pace of learning. Developed in Malmö by co-founders Markus Westerberg (PGA Professional, Ljunghusen Golfklubb) and Christian Bergh, deWiz is available in the US, Canada, Europe, Australia, Japan, South Africa and South Korea (d other markets are regularly added: visit the site for the latest news). For more information about deWiz AB, visit dewiz.com for investor relations and company information. For e-commerce and more information on deWiz’s patented golf swing modifier, visit dewizgolf.com and learn how to hit the ball longer, straighter and closer. Download Wiz Golf’s free demo app to explore its pioneering swing data via the Apple App Store or Google Play.

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contacts

David Schaefer

Marketing and communication, deWiz Golf

[email protected]
+46702877637

Source: http://www.businesswire.com/news/home/202210060050…

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