Sports have occupied a considerable part of people’s entertainment. Thus, the industry is now exponentially growing. To meet the need of sportspersons and fans correspondingly, Sports Tech Companies are evolving quickly and disrupting the industry of sports.
Sports tech companies are impacting how athletes prepare, how sports outlets are run, as well as how sports crews confront audiences.
The most famous trends and innovations comprise performance analytics via Big Data and AI, technologies such as the IoT (Internet of Things), crowd sentiment analysis, as well as contactless solutions helping smart stadiums, cybersecurity, and eSports.
In addition to this, immersive reality explanations like virtual reality and augmented reality (VR/AR), and holograms enhance fan engagement and training.
Below is the list of sports tech companies to watch out for in 2023:
However, before we dig in to find sports tech companies to watch out for in 2023 let’s learn more about collectID which supports many sports tech companies with their service.
Company Name: collectID
Location: Switzerland, Zurich
App/Website: https://collectid.io/, Apple App, Google App
Funding: “In Dec, they did a Seed Round and they’re Pre-Series A.”
Investors: They have raised roughly $3.MM. The major investors are Hellen’s Rock Capital, SeventySix Capital, and also Sygnum/SBI
collectID utilizes blockchain, NFT, and NFC technology to make sure each product features its uniqueness and digital ID. This company even helps protect sports tech companies as well as their items from the fake market and prolong the life of the products in the tertiary and secondary markets.
This company opens up the digital dimension for material products. They have a securely and small encrypted NFC tag. Sports tech companies know this tag from their banking card (contactless ), so companies such as American Express or Mastercard are utilizing the same tech, and collectID put that NFC tag into the material product. This can be sports clothing, sports shoe, or a football jersey.
Moreover, with collectID’s advanced technology, the sport tech companies can tell the story directly via the product as well as provide unique data and knowledge to its product proprietors.
Including a digital dual to a material product improves the value as well as invites new opportunities for brands as well as customers, for example, a special loyalty program.
By unlocking the NFTs, the end consumer gets a lot of bonus components, for example, a meet and greet with the sports tech company’s idol, presale rights, and long-life membership, the options are unlimited.
List Of Top Sports Tech Companies In 2023
2022 passed and with the year flying away a wind of sports tech developments came that is certain to leave a long-lasting impact on the sports industry. The fast pace at which trends and technologies are growing, and a few crashing, left us discussing what’s next for sports technology, where we should be, and others, be concentrating our engagement in 2023.
Funding: USD 5 Million
Investors: Queen City Angels, NCT Ventures, Rev1 Ventures, and 7 more Investors
Healthy Roster is one of the best sports tech companies that provide EMR platforms and sports training for physical therapists.
The platform delivers mobile injury certifications, HIPAA compliance, and also communication apps that combine with the EHR as well as deliver end-to-end reporting and patient tracking.
The platform even provides care coordination, patient engagement, outreach tools, and secure communication for healthcare specialists, including physical therapists, athletic trainers, and also safety managers.
Funding: USD 1 Million
Investors: NDRC, Wayra Deutschland
BragBet is generally a social betting forum. It lets groups of colleagues or friends discuss sporting possibilities and determine which circumstances are worth their bet. Anybody can form a group as well as invite their buddies to join the group.
Each group member can add a certain amount to the group betting account. Then every week a different group member becomes the manager of the fund. Users here can discuss their information and how the last bets were accomplished.
They have a leaderboard that shows the performance of the team and even delivers statistics regarding the best tipsters and fund managers.
Funding: USD 1M Million
Investors: Enterprise Ireland, Elkstone Partners, University Bridge Fund, and 4 more Investors
Output Sports tech company offers wearable detectors for athlete performance. Output Sports’ core technology has progressed signal processing as well as machine learning methods, for end-to-end solutions that can try multiple elements of track training programs and athletic performance.
The strength trainers, rehab specialists, and athletes avail exert analysis data via a corresponding app. In 2019, Output Sports has been rewarded “Best Young Entrepreneur”.
Investor: Delta Partners
Sports Authority provides sports betting analysis and tips. It is an authoritative and independent collection of analysts and professionals that delivers high-quality sports betting content (videos) for the web.
This company provides an analytical and informative preview for all sports punters. They come with entertaining and insightful clips on some sports betting beforehand live matches.
This company aims to offer a complete spectrum of market-focused online programming for sports to improve and rev the betting adventure.
Their video participants offer a variety of technology and programming, providing sports betting customers with a great user experience, and exposing them to strong opinions and lively debate, by which the customers can aim to win the bet.
Funding: USD 956K
Investor: Halo Business Angel Network
Elivar manufactured & markets sports nourishment products for athletes (mainly middle-aged ones). This company generates sports nutrition items exclusively for persistent athletes who are in their middle age now.
It assists in enhancing their interpretation while delivering longer health benefits to sustain their ongoing participation in sports.
It delivers orange-mango and chocolate-flavored foods for energy, muscle mass, energy release benefits, bones, and the immune system. They sell their foods online via their platform and many offline stores and listed the store on their platform.
Developments in Artificial intelligence (in short AI), machine learning ( in short ML), immersive reality, fantasy sports, the Internet of Things (in short IoT), and robotics will have a significant effect on the sports industry now. To embark on the effect of the pandemic due to COVID, sports tech companies presented virtual fan tech to optimize the experience of viewing and enjoying sports.
These will take an even more prominent role in post-pandemic years. Further, real-life sporting events, virtual sitting, and broadcasting platforms are evolving rapidly. Fan and player safety remains to be a top priority.
Further, startups will be focusing more on technologies like biometric authentication, face recognition, as well as ransomware prevention to mitigate existing and emerging threats.