Latest news with #SportsTech
Associated Press
5 days ago
- Business
- Associated Press
Tesonet invests in Lithuanian SportsTech startup FPRO
Tesonet is investing €2 million in the Lithuanian SportsTech startup FPRO. This is FPRO's first round of outside investment, marking a new phase in its development. The funds will help the startup to leverage smart tech solutions to expand professional training opportunities in youth football worldwide. A made-in-Lithuania solution for the global football market FPRO is a SportsTech startup that is developing innovative football training solutions for children. Working in collaboration with UEFA-certified coaches and experts in sports science, FPRO has devised a unique interactive app for children ages 6 through 12. The app is designed to improve their technique, coordination and ball control skills. Having founded the Football Pro Academy back in 2018, founders Ernestas Pilypas, Darius Jankauskas, and Vilius Petkevičius were forced to move operations online during the pandemic. This was the impetus behind the development of their digital product, which was released in 2022. The platform's user base currently consists of 140,000+ children from the UK, Germany, the US, and other countries. Most of the company's revenue comes from sales outside of their home market. 'Football is the most popular sport in the world, but the market is currently short on qualified coaches. We wanted to create a solution that would be accessible to everyone, regardless of their financial means or location. FPRO fills this gap by offering young athletes an accessible, tech-driven method geared towards raising their physical fitness and developing their personalities in a comprehensive way. It helps to build their self-confidence, discipline, and passion for football through a focused and personalised coaching process. We see Tesonet's investment as confirmation that we're on the right track,' said Vilius Petkevičius, co-founder of FPRO. Ambitious partnership for innovation in children's sports 'The sports technology market has enormous potential, and football unites billions of people worldwide. Given our substantial experience with SportsTech, the latest investment reflects our strategy to expand the sports innovation ecosystem while strengthening the community both in Lithuania and globally. This is a profitable and growing startup with a broad user base, an unstoppable team, and founders who are experts in their field. It's a perfect combination, and one that mirrors our own values,' commented Tomas Okmanas, co-founder of Tesonet. Tesonet co-founder Eimantas Sabaliauskas added: 'When making a decision to invest, we consider not only market potential, but also a given team's vision and ability to solve real problems on a global scale. FPRO has created a strong product, and our goal as investors is to help them not just financially but also in terms of strategy. We see clear synergies where our contribution could help them optimise business processes, develop new revenue streams, expand their user base, and further accelerate growth internationally.' Another SportsTech investment in Tesonet's portfolio This is not our first venture in the sports vertical. In 2022, we acquired shares in BC Žalgiris Kaunas, helping the basketball club with its digital transformation and commercial expansion. Then in 2024, we invested in basketball club BC London Lions, aiming to promote the development of young talent and bolster the club's competitiveness internationally. ABOUT TESONET: Tesonet is one of the largest venture builders and investors in the Baltic States. It houses globally recognized companies such as joint cybersecurity powerhouse Nord Security and Surfshark, a market-leading web intelligence collection platform Oxylabs, the fastest-growing brand among hosting providers Hostinger, - an AI orchestration platform, and others. With over 3,500 in-house talents and a fully developed infrastructure, Tesonet supports, funds, and scales businesses globally. Since 2018, Tesonet has extended its reach by investing in successful ventures like Hostinger, Cast AI, Eneba, BC Žalgiris, London Lions, Artea, Zapp, Turing College, and others. Tesonet is known for its innovative ecosystem and strong infrastructure, which support product development, testing, and global growth. The company is dedicated to advancing technological innovation and helping grow the broader ecosystem. ABOUT FPRO: FPRO is a sports technology startup dedicated to developing innovative training solutions for children's football. Collaborating with UEFA-certified coaches and sports university experts, FPRO has created a unique interactive mobile app designed to help children aged 6–12 improve their technique, coordination, and ball control the platform is being used by over 140,000 children across the United Kingdom, Germany, the United States, and other countries.
Yahoo
5 days ago
- Business
- Yahoo
Tesonet invests in Lithuanian SportsTech startup FPRO
Tesonet is investing €2 million in the Lithuanian SportsTech startup FPRO. This is FPRO's first round of outside investment, marking a new phase in its development. The funds will help the startup to leverage smart tech solutions to expand professional training opportunities in youth football worldwide. A made-in-Lithuania solution for the global football market FPRO is a SportsTech startup that is developing innovative football training solutions for children. Working in collaboration with UEFA-certified coaches and experts in sports science, FPRO has devised a unique interactive app for children ages 6 through 12. The app is designed to improve their technique, coordination and ball control skills. Having founded the Football Pro Academy back in 2018, founders Ernestas Pilypas, Darius Jankauskas, and Vilius Petkevičius were forced to move operations online during the pandemic. This was the impetus behind the development of their digital product, which was released in 2022. The platform's user base currently consists of 140,000+ children from the UK, Germany, the US, and other countries. Most of the company's revenue comes from sales outside of their home market. 'Football is the most popular sport in the world, but the market is currently short on qualified coaches. We wanted to create a solution that would be accessible to everyone, regardless of their financial means or location. FPRO fills this gap by offering young athletes an accessible, tech-driven method geared towards raising their physical fitness and developing their personalities in a comprehensive way. It helps to build their self-confidence, discipline, and passion for football through a focused and personalised coaching process. We see Tesonet's investment as confirmation that we're on the right track,' said Vilius Petkevičius, co-founder of FPRO. Ambitious partnership for innovation in children's sports 'The sports technology market has enormous potential, and football unites billions of people worldwide. Given our substantial experience with SportsTech, the latest investment reflects our strategy to expand the sports innovation ecosystem while strengthening the community both in Lithuania and globally. This is a profitable and growing startup with a broad user base, an unstoppable team, and founders who are experts in their field. It's a perfect combination, and one that mirrors our own values,' commented Tomas Okmanas, co-founder of Tesonet. Tesonet co-founder Eimantas Sabaliauskas added: 'When making a decision to invest, we consider not only market potential, but also a given team's vision and ability to solve real problems on a global scale. FPRO has created a strong product, and our goal as investors is to help them not just financially but also in terms of strategy. We see clear synergies where our contribution could help them optimise business processes, develop new revenue streams, expand their user base, and further accelerate growth internationally.' Another SportsTech investment in Tesonet's portfolio This is not our first venture in the sports vertical. In 2022, we acquired shares in BC Žalgiris Kaunas, helping the basketball club with its digital transformation and commercial expansion. Then in 2024, we invested in basketball club BC London Lions, aiming to promote the development of young talent and bolster the club's competitiveness internationally. ABOUT TESONET: Tesonet is one of the largest venture builders and investors in the Baltic States. It houses globally recognized companies such as joint cybersecurity powerhouse Nord Security and Surfshark, a market-leading web intelligence collection platform Oxylabs, the fastest-growing brand among hosting providers Hostinger, - an AI orchestration platform, and others. With over 3,500 in-house talents and a fully developed infrastructure, Tesonet supports, funds, and scales businesses globally. Since 2018, Tesonet has extended its reach by investing in successful ventures like Hostinger, Cast AI, Eneba, BC Žalgiris, London Lions, Artea, Zapp, Turing College, and others. Tesonet is known for its innovative ecosystem and strong infrastructure, which support product development, testing, and global growth. The company is dedicated to advancing technological innovation and helping grow the broader ecosystem. ABOUT FPRO: FPRO is a sports technology startup dedicated to developing innovative training solutions for children's football. Collaborating with UEFA-certified coaches and sports university experts, FPRO has created a unique interactive mobile app designed to help children aged 6–12 improve their technique, coordination, and ball control the platform is being used by over 140,000 children across the United Kingdom, Germany, the United States, and other countries.
Gulf Business
07-02-2025
- Business
- Gulf Business
Sporting legends to join new SportsTech stage at LEAP 2025
A line-up of sporting figures and tech industry leaders will take the stage at SportsTech – a new content track at SportsTech is one of two new content stages for the 2025 event, alongside Tech Arena. These additions reflect LEAP's expansion into key industry sectors. Saudi Arabia's focus on sports and its Vision 2030 diversification goals have attracted major industry figures to the event. Hosted by former France and Manchester United footballer Patrice Evra, the SportsTech stage will feature more than 30 speakers, including Javier Tebas, President of LALIGA; Dominic Thiem, Grand Slam tennis champion; Casper Stylsvig, Chief Revenue Officer, Chelsea FC; and Vinai Venkatesham OBE, former CEO of Arsenal FC, who will be attending LEAP for the first time. Speaking ahead of the event, Javier Tebas said: 'It is an honour for LALIGA to participate in LEAP, a major technology forum. I will address the key challenges and opportunities the sports industry is facing in terms of technology.' Javier Tebas, President of LALIGA. Other notable participants include representatives from Formula E, SailGP, the ATP Tour, the DP World Tour, the Ryder Cup, and the Commonwealth Sports Foundation. Senior representatives from global football clubs such as Newcastle United, Juventus, Chelsea FC, and Tottenham Hotspur will also share insights, along with figures from the England and Wales Cricket Board and the F1 McLaren Racing Team. Attendees will also have the opportunity to meet football figures Andrea Pirlo, a World Cup winner with Italy, and Francesco Totti, AS Roma's record goal scorer. Iker Casillas, Spain and Real Madrid's former goalkeeper, now a commentator, and Mathieu Flamini, former Arsenal and France midfielder and now a biochemical entrepreneur, will also be part of the meet and greet. 'Sports tech is changing the way we play, train, and experience sports. I'm looking forward to attending LEAP to explore new technologies shaping the future of sport,' said Iker Casillas. Iker Casillas, Spain and Real Madrid's former goalkeeper, now a commentator. The SportsTech stage is also attracting investors such as Apex Capital, a firm known for its partnerships with sports figures including McLaren Formula One driver Lando Norris, professional boxer Anthony Joshua, and former footballer Raphael Varane. Technology's role in advancing sports production and fan engagement will be a key focus. Topics will include AI, AR/VR, data analytics, fan engagement, sustainable sports tech, business models, and how investments are shaping the sports industry. Recent data from Predence Research forecasts the global sports technology market will grow annually by almost 21 per cent, reaching $117.93 billion by 2034. Saudi Arabia's successful bid to host the FIFA World Cup 2034 highlights its growing role in global sports, alongside events such as the Jeddah F1 Grand Prix and investments in ATP Tour tennis, Formula E, football, and esports. 'We have designed the new SportsTech track, in partnership with the Ministry of Sports, to bring leading industry figures to Riyadh next month, with discussions covering topics such as performance, fan engagement, sustainable event production, and business success,' said Michael Champion, CEO of Tahaluf, which co-organises LEAP with the Saudi Ministry for Communications and Information Technology (MCIT) and the Saudi Federation for Cybersecurity, Programming, and Drones (SAFCSP). LEAP 2025 will run from February 9-12 at the Riyadh Exhibition and Convention Centre, Malham.
