Investment firm Dutch Sports Tech Fund, based in Amstelveen, Netherlands, has invested in a cycling community app founded by professional rider Tom Pidcock, winner of this year’s Tour de France.
The fund seeks to invest in sports technology companies that work in athletic performance, data and analytics, and fan engagement.
Founded by Pidcock and former teammate Jacques Savagnargues, Link My Ride allows riders, clubs and brands to connect through a smartphone app and desktop platform.
The Dutch Tech Sports Fund’s statement says it is the first fund to focus exclusively on this market. In the year In 2019, the sports technology market was 11.0 billion dollars – 6.4% of the total sports market – and it is predicted to reach 23.1% to 31.1 billion dollars in 2024, according to the fund.
The Dutch Tech Sports Fund was founded in 2020 by Mark Snijders, a former professional soccer player.
Link My Ride is in its final stages of development before launching later this year. Pidcock won the Alpe d’Huez stage of this year’s Tour de France – one of the world’s most famous cycling races.
Alexander Jansen, CEO of Dutch Sport Tech Fund, said: “As a fund we are excited to enter the cycling market and community. Link My Ride stood out, ticking all the boxes; Great business models, founders, mentors and influencers; Charity focus, young and ambitious team and great app.
Other investments from the fund include participation in ZEST.GOLF, a business booking site for golf courses and the recent acquisition of soccer platform 433 and Horism, Jogo, whose clients include Liverpool, Chelsea, Real Madrid, Dortmund and Juventus.