Smart socks maker Danu Sports to create 10 jobs after raising €3.5m

Danu Sports, a provider of wearable sports analytics technology, has raised €3.5 million in Series A funding, led by CastleGate Investments. The company, which makes smart socks integrated with sensors, said the fundraising will support the creation of 10 jobs as well as the commercialisation of its wearable technology products.

This is the third and largest funding round since 2020 for Danu, which is also backed by Enterprise Ireland and Halo Business Angel Network (HBAN).

Founded by Oisín Lennon in 2017, Danu has developed a wearable movement analysis system providing injury and performance analysis in the field, with the aim of reducing the number of injuries incurred by professional sports people.

Its initial target is clinicians and strength and conditioning coaches for professional teams across soccer, rugby, basketball and American football, with broader consumer sport applications over time.

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CastleGate Investments is a growth-focused family office led by former Goodbody chief executive Roy Barrett that acquired estate agent Sherry FitzGerald last year. It manages a family fund on behalf of serial entrepreneur Tommy Kelly, the chief executive and founder of eShopWorld.

Following the fundraising, CastleGate, as an anchor investor, will nominate two directors to the Danu board, including Adidas executive Jason Crawford.