Strikr, a new boxing format and property focused on using technology to eliminate the possibility of judging error, is reportedly close to raising $50 million in funding from several investors.
The property, as reported by UK outlet Sky News, is in detailed talks with a significant number of heavyweight investors, regarding what would be its first major funding round.
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In addition, London-based consultancy Oakwell Sports Advisory has now unveiled it is being utilized by Strikr to assist with securing this funding.
Strikr plans to use data-driven scoring by using methods such as embedding sensors in boxers’ mouthguards, which could track a punch’s force and speed.
Sky has reported that the property’s organizers feel this will make it an attractive proposition for betting brands and sportsbooks, potentially through live and in-play betting.
Key personnel involved with the property currently include the former marketing head of the London 2012 Olympic Games Greg Nugent and the former chief transformation officer at Spanish soccer giants Real Madrid, Michael Sutherland.
Stephen Duval, founder of the international sporting financial solutions provider 23Capital, has also been reported as one of the co-founders.
Duval has been quoted by Sky as saying: "Strikr is a new format of boxing that uses world-class technology to generate real-time objective scoring.
"It will create a different approach to fighting, using a new format, enabled by new technology, to engage the existing audience and attract a new one, to the benefit of the market overall."
It has been reported that an official launch will take place in May, and that fights will be free to watch initially – potentially through digital streaming platforms such as YouTube.
In terms of new boxing properties set to disrupt the status quo, earlier this month it was unveiled that TKO Group, the sports division controlled by entertainment giant Endeavor, will collaborate in a multi-year partnership with Saudi Arabian events company Sela and high-profile boxing figurehead Turki Alalshikh to launch a new promotion.
The as-yet-unnamed promotion, which will debut later in 2025, will feature an in-house roster of fighters and will focus on developing the sport's upcoming talents.
The new promotion will draw expertise from across the TKO range of brands, including UFC’s slate of Performance Institute global training centers, IMG’s promotional and broadcast experience, and On Location’s hospitality specialty.
Given that the vast majority of the world’s elite boxing talent is signed to one of four prominent promotions (Golden Boy, Matchroom, Queensberry, or Top Rank), the new promotion will require the influence of one such as Alalshikh to bring top-line talent to its events.
