{"id":44514,"date":"2023-10-20T15:36:33","date_gmt":"2023-10-20T15:36:33","guid":{"rendered":"http:\/\/startupsmart.test\/2023\/10\/20\/melbourne-startup-spt-raises-more-than-1-5-million-to-inject-oxygen-into-the-fire-startupsmart\/"},"modified":"2023-10-20T15:36:33","modified_gmt":"2023-10-20T15:36:33","slug":"melbourne-startup-spt-raises-more-than-1-5-million-to-inject-oxygen-into-the-fire-startupsmart","status":"publish","type":"post","link":"https:\/\/www.startupsmart.com.au\/uncategorized\/melbourne-startup-spt-raises-more-than-1-5-million-to-inject-oxygen-into-the-fire-startupsmart\/","title":{"rendered":"Melbourne startup SPT raises more than $1.5 million to “inject oxygen into the fire” – StartupSmart"},"content":{"rendered":"
\"\"<\/div>\n

Melbourne-based sports technology startup Sports Performance Tracking (SPT) has raised over $1.5 million to \u201cinject oxygen into the fire\u201d and continue its rapid expansion around the world.<\/p>\n

SPT offers GPS technology to amateur athletes in local sporting clubs that is now sold in 40 countries.<\/p>\n

The latest funding round was led by existing investor Brady Scanlon, and follows a cash injection of just under $1 million in September last year.<\/a><\/p>\n

SPT founder William Strange says he was able to attract investors using his company\u2019s proven traction in the large market.<\/p>\n

\u201cWhen you\u2019ve been running a business for multiple years you suddenly have to start backing up claims and investors don\u2019t give you as much blue ocean,\u201d Strange tells StartupSmart<\/em>.<\/p>\n

\u201cFortunately for us that was the easy part of the process. We fortunately had enough interest from a large variety of people that we were still able to pick and choose who we wanted involved.\u201d<\/p>\n

Strange says the funding will be used for further international expansion, with about 60% of the startup\u2019s revenue already coming from outside Australia.<\/p>\n

\u201cWe\u2019re really starting to push into those markets and now we can get the resources and marketing to drive new tech innovations and deliver products to the market,\u201d he says.<\/p>\n

\u201cOur growth has been fantastic \u2013 we keep doing record months each month. We found massive uptake internationally that has seen us make up for the domestic slow-down.\u201d<\/p>\n

Strange says SPT has only spent $254 in total on its global marketing, and some of the recent funding round will be used to further these efforts.<\/p>\n

SPT\u2019s first product GamaTraka gives junior, amateur and professional athletes the ability to review fitness levels, in-game work rates and training levels through GPS technology.<\/p>\n

Although the technology was initially angled for consumers and amateur athletes, a number of larger clubs, including English Premier League club Sunderland and a number of Championship teams, have also become users of SPT\u2019s technology.<\/p>\n

\u201cIt\u2019s something players can understand and clubs can afford,\u201d Strange says.<\/p>\n

Strange is also the founder of underwear subscription startup Three65, which he sold to focus his efforts on SPT.<\/a><\/p>\n

He says that it\u2019s crucial for founders to take all advice on board and then adapt it for them.<\/p>\n

\u201cTake advice from a lot of people,\u201d Strange says.<\/p>\n

\u201cEntrepreneurs are pretty stubborn people generally, that\u2019s why they\u2019re doing what they\u2019re doing, and they\u2019ll put their own spin on it anyway.<\/p>\n

\u201cTake as much advice as you can and then put your spin on it to make it specific to you and your industry.\u201d<\/p>\n

Follow StartupSmart on<\/em> Facebook,<\/em> Twitter, <\/em>LinkedIn. <\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Melbourne-based sports technology startup Sports Performance Tracking (SPT) has raised over $1.5 million to \u201cinject oxygen into the fire\u201d and<\/p>\n","protected":false},"author":1,"featured_media":59212,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[19,12,11,1],"tags":[],"_links":{"self":[{"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/posts\/44514"}],"collection":[{"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/comments?post=44514"}],"version-history":[{"count":0,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/posts\/44514\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/media\/59212"}],"wp:attachment":[{"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/media?parent=44514"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/categories?post=44514"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/tags?post=44514"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}