LOS ANGELES, April 14, 2021 /PRNewswire/ -- SIQ Basketball, creator of the world's first FIBA-approved smart game ball, today announced their product has moved out of beta testing and is now available to ship to all 50 U.S. states. The company has expanded into new business-to-business sales channels to coaches and teams in addition to selling directly to consumers. SIQ Basketball has developed the industry's first smart game basketball providing athletes unparalleled shooting analytics for use at every level.
SIQ smart basketballs track critical shooting data points, including makes, misses, swish percentage, shot distance, shooting percentage, form consistency, shot situation, release time, release angle, and quickness. The ball's internal sensors do not affect its weight or flight, giving it the same look and feel as compared to a standard game ball. Using AI data modeling, millions of shots have been analyzed to inform SIQ's patented technology to achieve over 99% accuracy when shooting indoors.
The company has continued to streamline operations to meet increased demand after raising a pre-seed financing round of just under $1M last summer led by Tera Ventures in Tallinn, Estonia. Production has ramped up as product demand surges due to the resumption of organized team basketball. With close to 30 patents and a global market of hundreds of millions of basketball players, SIQ Basketball plans to raise additional capital later this year to further scale worldwide operations.
"Athletes increasingly desire meaningful, data-driven feedback on their physical performance, and prior to SIQ, basketball has been vastly underserved in that area," said Erik Anderson, CEO of SIQ Basketball. "Now basketball players of all levels have affordable access to advanced shooting analytics and data."
The SIQ ball has been approved by the world's governing body for basketball known as the International Basketball Federation (FIBA) for game play, making real-time, in-ball shooting data available for the first time to coaches and players in live settings. The ball can also segment player data among multiple shooters with unique IDs when playing in team mode, has a leaderboard feature, and a coach's app that will launch in the coming weeks.
SIQ's wider executive team brings deep sports industry experience across media, marketing, and professional basketball. The startup's Founder and Chief Product Officer is Harri Hohteri, a former Finnish pro basketball player, and its Chief Marketing Officer is Josh Gotthelf, co-founder of Dime Magazine.
Athletes and coaches can get started by purchasing their basketball, available in a range of men's, women's and youth sizes, before choosing a membership plan on iOS or Android. SIQ basketballs, which are powered to last about 550 hours, retail for $99 while the app subscription ranges from $6.99 to $12.99 per month. For more information, please visit https://siqbasketball.com/.
About SIQ Basketball
SIQ (pronounced "S-I-Q") Basketball is the industry's first FIBA-approved smart game ball that tracks all the data a shooter at any level needs. Shooting skills including makes, misses, swish percentage, shot distance, shooting percentage, form consistency, shot situation, release time, release angle, and quickness are all tracked by SIQ's patented technology with 99% indoor accuracy when paired with the mobile app. The ball's discreet internal sensors do not affect its weight or flight, giving it the same look and feel as compared to a standard game ball. For more information, visit https://siqbasketball.com/.
SOURCE SIQ Basketball