Gavin Buchan, who heads up our Banking team, advised Shot Scope in its latest investment securing funding from Virgin Money to help the Edinburgh-based company to scale globally.
Shot Scope has been a client of Lindsays for over 2 years and over that time our lawyers have provided corporate legal advice with Douglas Roberts in our Corporate team.
Gavin said: “It was good to work with such an innovative and ambitious company and to assist with securing this significant investment to help the management team achieve their global goals. The £1.5m growth funding and support will certainly help the company to take the next step on their journey.”
Shot Scope provides wearable, global positioning, laser and shot tracking devices designed to aid decision making and improve golf performance. The company was founded in 2014 by its chief executive David Hunter, a former electronics design engineer and secondary school teacher, who invented the product at home in his spare time.
Over the last six years, the firm has grown to a team of 20 based in the company’s head office and raised in excess of £7m investment through key shareholders, which include Old College Capital, the University of Edinburgh’s in-house venture investment fund.
Now a leader in the UK market, the business has an ambitious plan to scale globally through 2022-23, initially targeting the US where it already has a commercial presence through trusted golf retailers.
Financial Director, Dean Anderson said: “It was reassuring to have Gavin advising on the legal aspects involved in agreeing this partnership with Virgin Money. His expertise, along with that of Douglas Roberts from the Corporate team at Lindsays, is helping us realise the global expansion we envisage for Shot Scope.”
