Sports
Huupe, a Smart Basketball Hoop Startup, Raises $11M to Boost Game – Global Village space
Huupe, a startup focused on improving basketball training and gameplay, has raised $11 million in funding to develop its smart basketball hoop product. The product combines hardware, software, and media streaming to create a unique training experience for basketball players. The connected basketball hoop is equipped with computer vision and a video screen that displays training videos of basketball coaches, trainers, and players. The system tracks and responds to how people are playing and what they need to work on to improve their skills. The package starts at $4,995 and $6,495 depending on the size of the screen, with a $30 per month app subscription for content. Huupe’s co-founders, childhood friends Paul Anton and Lyth Saeed, came up with the idea when they were living in different cities and wanted to play basketball remotely. The company has been around since 2015 and was bootstrapped for years before raising its first seed round last year. Investors are attracted to the company’s grassroots approach and potential market beyond consumers, including gyms/fitness centers, community courts/centers, and schools. While various startups have targeted hardware for different sports, Huupe is breaking through in the basketball equipment market with little competition or precedence. The company is also considering other sports that are not unlike basketball: lacrosse, soccer, and hockey are on its list.
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