Golf News for Thursday, January 10, 2013 | Business

Mobiplex announces raising $1.3M more of additional investment

SANTA CLARA, Calif. -- Mobiplex Inc., which specializes in mobile sports performance technology based on miniature wireless sensors and mobile device apps, announced that it has raised $1.3 million in additional funding from a group of current and new private investors. The new funding brings the company's total financing to date to $4.4 million.

Mobiplex plans to use these funds to accelerate global sales growth and advance product innovation for its SwingTIP Real-Time, Personal Golf Swing Analysis Technology. SwingTIP is an innovative Bluetooth-enabled 3D motion sensor unit that clips onto a golf club to capture and send real-time golf swing analysis to an Apple iOS (iPhone®, iPod Touch®, iPad®) or Android® device, as well as to the MySwingTIP.com personal performance tracking website.

"I've been extremely impressed with the Mobiplex team's ability to develop and grow the business in a short amount of time," said Brian Halla, Cisco Board Member and retired Chairman and CEO of National Semiconductor, as well as early-stage investor in Mobiplex. "The progress to date has been significant from a product standpoint, and the market traction most encouraging."

"We knew we had powerful technology for sports analysis and improvement, but the positive market reaction from golfers, media, retailers and investors has totally exceeded our expectations," said Vijay Nadkarni, CEO and founder of Mobiplex. "This additional funding will accelerate our market penetration and further expedite our product development. Golfers are an extremely engaged and enthusiastic group and we're looking forward to introducing some rather innovative new features to help them enjoy their sport, and get better at their game with SwingTIP."

SwingTIP is sold online and in-store at retailers in the U.S. and Canada, with additional major retailers and International expansion in the near term horizon.

Mobiplex will be demonstrating SwingTIP at the Pepcom Digital Experience! at the 2013 International CES on Monday, January 7, 2013; in the Dr. Bott booth 5825 at 2013 International CES January 8-11, 2013; and at the PGA Merchandise Show SwingTIP booth 1187 January 24-26, 2013.

About Mobiplex Inc.
Founded in late 2010 in Silicon Valley, Mobiplex™ is a revolutionary venture specializing in mobile sports performance technology based on miniature wireless sensors and mobile device apps that help athletes improve their skill levels for better enjoyment of the game. Leveraging sophisticated technology in biomechanics, wireless, pattern recognition and motion analysis, the company has developed its patent-pending ProView™ Motion Analysis™ engine that can accurately capture, analyze and digitally reproduce a sports motion in three dimensions. The company's first product, SwingTIP™, delivers real-time, visual golf swing analysis via a Bluetooth app-cessory and a personal MySwingTIP™ web page. For more information, please visit http://www.mobiplex.com or http://www.swingtip.com

Contact:
Jill Mayer, Lyman Public Relations
swingtip@lymanpr.com or 775-392-0575



 
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