SIQ Basketball, a Los Angeles, CA-based creator of a smart basketball approved by the International Basketball Federation (FIBA) for game play, raised $3M in funding.
The round was led by KB Partners with participation from Tera Ventures.
The company intends to use the funds to allocate funds towards technological advancements to the product for increased optimization and gamification in addition to updates to the AI algorithms within the SIQ app, including the launch of a globally connected leaderboard for uniting SIQ users across the world.
Founded by former Finnish professional basketball player Harri Hohteri and led by CEO Erik Anderson, SIQ Basketball gives players access to real time shooting data and performance metrics instantly via an app, available on Apple and Android devices. The app tracks over 192 data points per shot without sacrificing on shape, bounce, weight or functionality of a standard ball.
Since publicly launching out of Beta in January of last year, over four million shots have been recorded on the SIQ app. With the ability to track multiple players’ performance metrics per basketball, SIQ’s analytics platform provides coaches, players, parents and more with real-time metrics on player development and growth. The SIQ basketball is available in men’s and women’s sizes and for indoor or outdoor use.
FinSMEs
21/05/2022