Macdonald Henderson advises Old College Capital on golf tech investment
Macdonald Henderson has advised Old College Capital, University of Edinburgh’s investment arm, in its investment alongside Scottish Investment Bank, Equity Gap and high-net-worth individuals, in a £1.6 million funding round in Shot Scope Technologies, maker of a performance-tracking watch for golfers.
The investment brings to £4.5m the total raised by the company since its launch in December 2014.
The funding round is the company’s third, following a £1.6m fundraising in 2016 and a £400,000 round in 2015. The company has also received £1m in government grants.
Shot Scope is a wearable golf device which automatically tracks a player’s performance and provides live “yardage” distances on the golf course.
Led by founder and CEO David Hunter, among the Shot Scope board are chairman Ken Lewandowski, an experienced technology and manufacturing chief executive; Dr Bill Buckie, a respected figure in the Scottish start-up scene; successful technology entrepreneur Ian Ritchie; and Rob Jones, co-founder of Fan Duel, the billion-dollar fantasy sports game launched in Edinburgh, who joined Shot Scope’s board in September.
Old College Capital fund manager Andrea Young added: “Shotscope is an exciting high-growth business based in Edinburgh and we were delighted to invest in this round.
“We were delighted by the professional service delivered by Fraser (Morrison) and the Macdonald Henderson team. Their commercial approach and experience in the investment market resulted in a well-run project which completed on schedule and in a collaborative spirit.”