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

MALMÖ, Sweden–( BUSINESS WIRE )–deWiz AB has closed its current Series B funding round with over SEK 43 million (nearly USD 4 million) in new investments dedicated to its deWiz Golf business. The oversubscribed investment will leverage deWiz’s portable swing modification technology through further marketing, further global expansion, continued product development and staffing to support future growth. In addition, 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 supported by the original group of investors and includes new investors such as 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 levels of the golf industry, from instructors to clubs golfers to professional tournament players. This round of investment strengthens deWiz’s golf business for the future, and we will then focus on mobilizing further investment to develop new applications of our patented stimuli-based technology,” says Jesper Kärrbrink, Chairman of the Board of deWiz AB.

“We confirm our Series A funding round last year and speak to the potential of deWiz, with this fundraising effort aimed at addressing global economic and geopolitical headwinds and expanding the reach of our investor pool. As we grow, we will establish a US- based investment entity and opens up new markets, both for our golf technology globally and new technological 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 enthusiasm in the golf industry for deWiz Golf’s innovative swing data as we continue to introduce it to coaches and golfers. The world’s elite for beginners trying to improve their drive. We have added a new layer of easy accessible swing data that helps golfers better understand exactly what they are doing on each swing by removing the guesswork and giving them tangible data points to hit the ball farther, farther. straighter 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 and provides 3D analysis and data through an easy-to-use app that helps golfers hit the ball more consistently and farther, straighter and closer, and learn faster with deWiz’s patented Learning Stimuli™. Visit the deWiz YouTube channel to watch videos on all of deWiz’s cutting-edge features, educational webinars, and ambassador testimonials.

DEWIZ TRAINING PROGRAM: The Wiz Coaches program offers educators an innovative new approach to coaching by providing students with real-time data to apply to their own practice and seamlessly monitor 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, ask about the Wiz Coaches program or email coach@dewizgolf.com. 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 roster 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; Tim Burke, two-time World Long Distance Champion, and Martin Hall, former PGA of America National Teacher of the Year.

A TECHNOLOGY THAT MAKES A BUZZ: Launched last summer, DeWiz made “buzz” and Forbes described it as an attempt to “drive the golf training support market”; it has been mentioned in Sweden’s leading financial media, Today’s Industry ; reviewed in On the Mark Podcast with Mark Immelman; and featured by Global Golf Post, Golf Monthly’s Editor’s Choice and Business Insider. Moreover, Golf.com described how Vijay Singh uses deWiz to lengthen his backswing, how Annika Sörenstam uses deWiz to monitor her pace, and how Yuka Saso uses deWiz to adjust her wedge.

ABOUT DEWIZ AB: As a global leader in stimulus-based motor learning, deWiz empowers players to unlock their potential and achieve their goals through cutting-edge 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-markets are added regularly: visit the website 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 farther, straighter and closer. Download Wiz Golf’s free demo app to explore its cutting-edge swing data via the Apple App Store or Google Play.

The text of the press release, derived from a translation, should in no way be considered official. The only authentic version of the press release is that of the press release in the original language. The translation will always have to be compared with the source text, which will set a precedent.

contacts

David Schaefer

Marketing and Communications, deWiz Golf

David@dewizgolf.com
+46702877637

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

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