Kinexon Raises $130M in Series A Led by Thomas H. Lee Partners to Aid Its Sports and Industrial Businesses

Wearable technology company Kinexon has raised a $130 million Series A round with plans to advance its automated innovations in both its industrial and sports businesses that already include performance tracking and data analytics.

The funding was led by private equity firm Thomas H. Lee Partners, with co-investments from BMW i Ventures and Telekom Innovation Pool. Based in Munich and with an office in Chicago, Kinexon has expanded to over 300 employees with a major emphasis on basketball.

The company is the NBA’s top provider for physical data, working with 80 percent of the league on live player and ball tracking—the goal being to help with training and in-game strategy. Kinexon, overall, has 400-plus sports clients and counting, as it continues to branch out to both college and professional football. It has also worked with FIFA, MLB and has also been integrating data into sports broadcasting through augmented reality applications.