50th Edition of Latest in Sports Tech + Thank You!
Instead of our weekly opening thought piece, we wanted to take a moment to share a small milestone. Today marks our 50th edition of Latest in Sports Tech This Week, and from the bottom of our hearts - thank you to each and every one of you who tunes in. Seriously.
Whether you accidentally clicked into the emails and decided to stay, skim for the latest news or jobs, or read every word in the fine print - you inspire us to continue putting out weekly content.
We’ve always believed sports is way deeper than leagues and teams - and our ultimate goal has been to break down the new tech, startups, and game-changing deals redefining the industry. In the process of chasing this goal, we’re having a blast getting to share our thoughts on things like Fanatics Fest, future of youth sports, AI gaming agents, crypto smart wearables, music catalog acquisitions, cold plunge & sauna social clubs - and that’s just scratching the surface.
But what’s been even more rewarding are the friendships we’ve built with some of the sharpest minds in the space - founders, investors, operators, and enthusiasts - all of whom we learn from constantly. We want to keep building with all of you. If you’re ever in NYC or SF, coffee is on us.
What started a year and a half ago in our parents’ basement as a way to simply get our thoughts on paper has now turned into a coast-to-coast grind. These days, we spend early mornings, late nights, and weekends working on the newsletter and podcast - any time we can get outside of our full-time jobs at Fanatics / Bank of America.
And the fact that over 1,600 of you care enough to read, listen, and share our content still blows our mind.
If you’re here, you can tell your friends you discovered us early…
Now, back to the Latest In Sports Tech.
- Sid & Suraj
Sports-Tech Market Activity: Investors & Deals
Venture Capital
PlayersTV, the first athlete-owned media network and content provider highlighting sports lifestyle and culture, launched $10M raise with $5M fan crowdfunding campaign (July 18th)
Hudle, an Indian-based platform facilitating various sports events and bookings, raised $2.5M in Series A funding (July 21st)
Hudle operates across 2K venues with 1.5M players, focusing on pickleball and padel participation growth
Investment led by Sky Impact Capital; other investors include Physis Capital and Atrium Venture, among others [FinSMEs]
Rare Candy, an online marketplace for collectible trading card games, receives backing from gaming-focused VC Konvoy Media in $3.6M Seed+ funding round (July 23rd)
Konvoy leads the primarily Pokémon-focused marketplace, which has grown 30x MAU since last summer
Rare Candy will promptly begin to expand to other fandoms, including Magic: The Gathering [KONVOY]
Tipt Ventures, a debut women-centered sports VC, announces initial close toward a $50M targeted debut fund, with first deal in women’s cleat manufacturer Ida Sports (July 24th)
Fund targets $50M total, with typical checks of $500K–$1M
Strategy includes pursuing middle-market exits across portfolio; no franchise ownership, aiming to address the ~3% of VC dollars going to women-led firms [Sportico]
Sahha.ai, a wearable data platform analyzing health and wellness insights, raises $1.2M in funding (July 23rd)
Funding to scale developer access, expand real-time data pipelines, and lower integration costs; Bringing total funding to $4M
Investment led by Supermoon Capital, Aura Venture, and Antle; other investors include Gandel Invest and Func Ventures, among others [Athletech]
M&A and Investments
State-backed Saudi Pro League nears first foreign-owner club sale amid privatization push with reported deal in progress (July 18th)
Six more clubs, including Al Okhdood, Al Orobah, and Al Kholood have been tendered, with new ownership announcements expected in coming weeks
League has taken over financial oversight from the Ministry of Sport to enforce stricter governance and attract global capital [SportsPro]
CVC Capital Partners taps Goldman Sachs, PJT Partners, and Raine Group to refinance £9B ($12.1B) portfolio through SportsCo (July 21st)
Portfolio includes LaLiga, Ligue 1, WTA, and Six Nations; refinancing may involve IPO or minority stake sale
Strategy aims to attract capital from Gulf sovereign funds and buyout firms; funds expected to arrive before end of year, potentially [SportsPro]
Prediction markets platform Polymarket acquires derivatives clearing organization QCEX for $112M to reenter US market (July 21st)
Deal grants CFTC-regulated infrastructure via QCEX, expediting US relaunch
Acquisition bypasses regulatory delays as company eyes rapid reentry after 3-year absence [Sportico]
Asset managers Apollo Global and Ares Management consider launch of new sports investing funds (July 21st)
Follows close of Ares’ first dedicated sports fund at $3.7B in 2022 and Apollo’s recent activity in deals with Sporting Lisbon, Nottingham Forest, and Atletico Madrid [SBJ]
885 Capital, a Dubai-based investment fund, acquired stake in season-based MMA league PFL, late 2024 (July 23rd)
PFL now valued at $1B; 885 holds 2 of 10 board seats, one less than Saudi-backed SURJ and PIF
Aligning with 885’s broader strategy of backing IP-rich, founder-led sports properties in emerging markets [Sportico]
Pro Shop, a modern golf media and commerce platform, acquires online golf community with over 2M monthly readers GolfWRX (July 23)
Brings large, loyal equipment-focused community and peer-driven forums to Pro Shop’s portfolio
Acquisition enhances Pro Shop’s ecosystem spanning content, apparel, live events, and PGA Tour-backed media [SBJ]
Photo Creds: Kalshi and xAI partner on bringing AI to prediction markets.
Strategic Ventures
Kalshi, a prediction market platform spanning sports, pop culture, and politics, taps Musk’s xAI to integrate Grok for users’ forecast support (July 24th)
Follows xAI’s recently-announced $12B debt financing raise via Valor Equity Partners
Also follows X’s partnership with official prediction market partner Polymarket, Kalshi’s major competitor [Altinvest]
LOVB, a youth volleyball community and pro women’s league, partners with shapewear clothing brand SKIMS to boost athlete visibility and brand reach (July 23rd)
Becomes league’s official loungewear, intimates, and sleepwear partner, joining LOVB’s 30+ brand roster after a $1M+ merch sales debut season
Follows Skims’ broader push into sports, including partnerships with NBA, Nike, and 2024 Olympics [SportsPro]
NY Giants launch social media influencer initiative to shake up fan engagement at training camp (July 22nd)
‘Training Camp Creator Series’ features 10 creators with 30M+ combined followers vs. Giants' 4.2M across TikTok and Instagram
Strategy aims to deepen player storytelling and brand relevance via creator-led content and off-field narratives [Giants]
Lucra Sports, a social gaming platform, partners with family media and gaming company Playground Productions for digital Backyard Sports tournaments (July 21st)
Lucra to power free-to-play tournaments across the US via white-label integration with the nostalgic Backyard Sports brand
Deal expands Lucra’s digital gaming footprint, building on clients like Dave & Buster’s and Five Iron Golf [Reuters]
PFL, a global MMA league, partners with sports-centered consumer internet and tech company Sporty Group in multi-year deal to launch PFL Africa (July 17th)
Includes free-to-air and digital distribution via SportyTV and Sporty.com across Nigeria, Ghana, Kenya, and South Africa
Partnership reaches 42M+ TV households, expanding access to PFL Africa, PFL Europe, PFL MENA, and global tournament content [PFL]
Atari, a retro gaming pioneer, partnered with smartphone-controlled online video game console AirConsole to launch in-car gaming with Volkswagen (July 18th)
Atari's Asteroids: Recharged and Breakout: Recharged now available on select VW models via infotainment systems [GamesBeat]
Soccer7sSeries, a fast-format, 7-a-side soccer league, taps DAZN for global broadcast rights (July 23rd)
Adds to DAZN’s portfolio of free content offerings, including LIV Golf, E1, and Super League Basketball, among others
Featuring 95 matches of 7-minute halves, with clubs like Borussia Dortmund, Corinthians, and Vasco da Gama participating [Soccer7sSeries]
Job Board & Opportunities: Week of July 25th
Here are some cool roles we found and personally curated this week - enjoy!