In times when the global sports and event scene is still suffering form heavy restrictions, German tech startup Fun With Balls (pun intended) just announced the closing of their current funding round at 1.4M€
More details in the press release below.
The hardware/ SAAS startup with the sticky name is best known for their tech transforming sports facilities to sophisticated mixed reality spaces, making your daily workout as fun and addictive as gaming. After starting in niche sports, the company is rapidly expanding into multiple industries with their platform product MultiBall (www.multi-ball.com). The closing comes just a few weeks after SAP.io announced FWB as part of their incubator program, connecting the startup to the creation of Munich’s new stadium SAP Garden together with FC Bayern Munich and Red Bull.
Founder Markos Aristides Kern: “As a startup that’s very rooted in the sports world, Covid19 and its global effect his us pretty hard after great growth end of 2019. We were just about to become profitable and already scaled our team rapidly. It was not easy and we’ve seen many of our friends suffer or go out of business.”
“We’re very happy we focus well and took the right measures to tackle this black swan event and come out of the crisis even stronger than before. Seeing our business improve by the day, we’re very happy to have our existing investors believing in us and also welcome some great new partners to fuel further growth in a 35B € market. Times of crisis demand activity, something we know extremely well and absolutely love.”
With the recent investment FWB plans to expand their global distribution network, the creation of new profit centers and to scale their international team.
Investors include Asics Venture Fund, The Professional Squash Association as well as VC funds from Germany and Israel.
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Fun With Balls Team