The deal
We’re pleased to have supported Okkulo, a sports technology business, to secure significant new investment through a six-figure debt and equity fundraise.
Okkulo, founded by Mel O’Connor, has created a system using vision and light science to help improve reaction times in athletes of all levels. The business recently opened its first academy at the Blue Flames sports centre on Tyneside for use by professionals and the local community.
To help oversee its growth, Okkulo has created a board of North East entrepreneurs, including Owen McFarlane, former Chief Executive of CAV Aerospace, Peter Atkinson from Teesside Industrial Controls, and FRP Corporate Finance Partner Abu Ali.
Our Corporate Finance team, led by Partner, Abu Ali, led this transaction for the business from start to finish.
Abu Ali, Partner at FRP Corporate Finance, said: “By securing this investment, Okkulo has even more capability to get out there and ensure it fulfils its potential to make the huge impact on the world of sport we know it can.”
Mel O’Connor, Founder of Okkulo, said: “Players and clubs around the world are contacting us on the strength of the reputation we’ve created in a really short time, backed up by evidence-based statistics and data which demonstrate the difference that can be made in even one session with us. We’ve been working with internationally known names who want to use Okkulo to be the best they can possibly be, and that’s what we can help them achieve.”
Deal summary
Date:
June 2022
Sector:
Technology
Deal type:
Raising capital, Private Equity
Deal size:
Undisclosed