Crowdsphere public September 9, 2023 at 4:27 pm
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Project Description

RaceRanger and the Offer

RaceRanger is an electronic sensor system designed to improve fairness around the issue of drafting on the bike section of non-drafting triathlons. Currently, determination of drafting distances by athletes and the technical officials policing them are made with subjective naked eye judgements.

Developed by two triathletes from New Zealand, in collaboration with the World Triathlon Sport department, RaceRanger comprises two electronic units that triathletes in non-drafting competitions attach to their bicycles, one at the front and one at the rear.

The system makes accurate measurements of the distance between athletes while they ride. The rear unit features 3 coloured lights that signal backwards to a following competitor, providing information about their following distance. In future, the system will detect when infringements are occurring and send this data to technical officials patrolling the course, via a tablet app interface. The official will assesses the situation in real-time and can then make a decision on whether a penalty needs to be applied through the system.

All athletes in a triathlon are given two devices to mount on the front fork and rear seat post of their bikes. RaceRanger’s initial business model is to manufacture and retain ownership of the devices, delivering the anti-drafting service (hardware as a service) at events around the world. This is the same model that the companies providing timing services currently operate. Event companies will be charged on a per athlete, per use basis. The event companies will on-charge the fee to athletes as part of the event entry fees, with the potential to add their own margin. Entry fees currently average US$540 for typical Ironman or Ironman 70.3 events.
Live athlete tracking will be developed in 2023, allowing for an improved spectator experience in following their spouse or friend around the course.

RaceRanger is seeking investment of NZ$1M for equity; on a NZ$3.5M pre-money valuation. Funds raised will be used to develop the live athlete tracking and motorbike drafting monitoring features, and a further hardware refinement round in preparation for manufacturing at a larger scale. Use in the pro cycling peloton and integration with virtual training platforms such as Zwift will be explored and pursued as high priorities yet longer-term targets.

The Information Memorandum for Race Ranger can be found below:

2023 RaceRanger Investment Memorandum

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