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deWiz AB Closes Out Series-B Funding to Fuel Golf Wearable Technology Business

Business Wire 06 ottobre 202210:00

deWiz AB has closed out its current Series-B funding round with more than 43 million SEK (nearly 4M USD) in new investment dedicated to its deWiz Golf business. The oversubscribed investment will showcase deWiz’s wearable swing modifying technology through additional marketing, further global expansion, continued product development, and added staffing to support further growth. And with financial backing secured for the golf vertical, deWiz AB can continue development on new verticals, including sports like basketball and tennis, as well as broader applications across gaming and healthcare. The Series-B funding round was backed by the original investors group, and includes new investors like Patrick Rees, founder of Bygghemma, and global deWiz ambassadors Vijay Singh and Annika Sörenstam.

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deWiz Golf AB's swing modifier wearable tech, which tracks the exact position of a golfer's hands throughout the swing and provides a 3D analysis to help golfers hit the ball longer, straighter and closer more consistently. (Photo: Business Wire)

“As deWiz continues to push the boundaries of technology and learning, this latest investment round will fuel our continued global growth of our golf swing modifier, which has gained tremendous traction the past year at all levels of the golf industry, spanning instructors, professional tour players and club golfers. This investment round bolsters our deWiz golf business for the future and next we will focus on raising additional investment for further development of new applications of our patented, stimuli-based technology,” said Jesper Kärrbrink, Chairman of the Board, deWiz AB.

“Matching our Series-A funding round last year, it’s a testament of deWiz’s potential with this fundraising effort countering the global economic and geopolitical headwinds and expanding the scope of our investors group. As we continue to grow, we’re establishing a U.S.-based investment entity and opening up new markets, both for our golf technology globally, as well as new technology solutions for other sports and industries for our patented approaches within wearable tech,” said Christian Bergh, cofounder and CEO, deWiz AB.

“Part of the foundation of deWiz’s latest investment round has been the enthusiasm within the golf industry for deWiz Golf’s innovative swing data as we continue to introduce it to coaches and golfers, from the world’s elite to beginners trying to cure their slice. We’ve added a new layer of easily accessible swing data that helps golfers better understand precisely what they are doing in every swing, eliminating the guesswork and providing them tangible data points to hit the ball longer, straighter, and closer,” said Markus Westeberg, cofounder and Chief Product Officer, deWiz Golf AB.

DEWIZ GOLF, HOW IT WORKS: Under development for more than five years, deWiz tracks the exact position of a golfer's hands throughout the swing, providing a 3D analysis and delivering data via a user-friendly app that helps golfers more consistently hit the ball longer, straighter, and closer, as well as learn faster with deWiz’s patented Learning Stimuli™. To access videos on all deWiz’s groundbreaking features, instructional webinars, and ambassador testimonials, please visit deWiz’s YouTube Channel.

DEWIZ COACHES PROGRAM: The deWiz Coaches Program provides teaching professionals an innovative new approach to coaching by providing students actionable, real-time data that they can apply to their own practice, seamlessly monitoring their progress between lessons. The deWiz Coaches Program benefits include affiliate revshare programs, access to advance data and dedicated onboarding services for certified golf instructors. To learn more, visit deWiz Coaches Program or email coach@dewizgolf.com. Currently, deWiz Coaches Program has partnerships with the LPGA Professionals, PGA of Sweden, PGA of Germany and the Southern California PGA of America Section.

DEVELOPED BY EXPERTS, TESTED BY PROS: The deWiz Global Ambassadors roster currently includes Annika Sörenstam, 10-time major-champion; Vijay Singh, 3-time major-champion; Bryson DeChambeau, U.S. Open champion from 2020; 2016 Open-champion Henrik Stenson; 2021 U.S. Women’s Open champion Yuka Saso; 2019 Houston Open-champion Lanto Griffin; 2-time long drive world champion, Tim Burke, and former PGA of America National Teacher of the Year Martin Hall.

BUZZWORTHY TECH: Debuting last summer, deWiz’s introduction has created a “buzz” with it being described by Forbes as looking to bring a “jolt to the golf training aid market;” profiled in Sweden’s leading financial media, Dagens Industri; featured within On the Mark Podcast with Mark Immelman; and showcased by Global Golf Post, Golf Monthly’s Editor’s Choice, and Business Insider. Additionally, Golf.com profiled how Vijay Singh’s uses deWiz to lengthen his backswing, Annika Sörenstam’s uses deWiz to monitor her tempo and Yuka Saso uses deWiz to dial in her wedge game.

ABOUT DEWIZ AB: As a world leader in stimuli-based motor learning, deWiz enables people to unlock their potential and achieve their goals through groundbreaking data and technology. As a Swedish developed and produced product, 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 U.S., Canada, Europe, Australia, Japan, South Africa, and South Korea (more markets are opening regularly - visit the site for the latest updates). For more information on deWiz AB, visit dewiz.com for investor relations and corporate information. For ecommerce and more information on deWiz’s patented golf swing modifier, visit dewizgolf.com and learn more on how to consistently hit the ball longer, straighter, and closer. Download the free deWiz Golf demo app to explore its pioneering swing data via the Apple App Store or Google Play.