Tech
This start-up makes basketballs that give grassroots players access to NBA-style advanced analytics. Check out the 21-slide pitch deck SIQ Basketball used to raise $3 million.
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- Sports startup SIQ Basketball gives grassroots players access to NBA-style advanced stats.
- Their basketball tracks 192 data points for every shot and can be bounced over 50,000 times.
- SIQ Basketball raised $3 million in a recent funding round led by KB Partners.
The NBA isn’t just about points, rebounds, and blocks these days.
Superstars can now measure themselves against advanced shooting metrics including their shot release speed, spin rate, and release angle.
SIQ Basketball wants to make that data available to grassroots players.
The startup manufactures an FIBA-approved basketball that contains high-tech data-tracking hardware and costs just $99. It’s durable enough to be bounced over 50,000 times, according to SIQ’s chief executive Erik Anderson.
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“The size, weight, bounce, and flight are the exact same as any other basketball,” he told Insider in a recent interview. “Nothing is different other than the fact that our ball tracks 192 data points per shot and provides advanced analytics that professional teams and top programs are using.”
SIQ has already landed some high-profile endorsements for its product. WNBA All-Star Kayla McBride credits their ball with helping her out of a shooting slump, and Miami Heat guard Duncan Robinson – one of the NBA’s most accurate shooters – officially endorsed SIQ last year.
But Anderson’s ultimate goal is to get SIQ’s ball into the hands of as many ambitious amateur and grassroots players as possible.
“The obvious market is consumers who don’t have access to the analytics that the professional players and organizations have,” he told Insider. “Everyone who wants to, no matter the age or level of expertise, deserves to have access to their shooting statistics and analytics and the opportunity to become better athletes.”
“That’s where we are changing the game, by providing affordable and immediate access to anyone and everyone who wants to become a better basketball player,” Anderson added.
To aid their efforts to expand, Anderson and SIQ recently closed a $3 million funding round that was led by Chicago VC firm KB Partners and supported by Estonia’s Tera Ventures.
Here’s the 21-slide pitch deck SIQ Basketball used to raise $3 million:
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