With crowdfunding raising over $2.5 billion in capital across Europe in 2014, its wide appeal and use among fledgling technology companies to raise more capital seemed well founded going into 2015. However, for Precision Sports Technologies, the creator of Precision Wear, a wearable monitoring system for individual athletes and teams, the decision to launch a Kickstarter campaign in December of 2015, didn’t work out, raising just $2,800 against a goal of over $50,000.
“The Kickstarter Launch was a tough and hard learning experience for us,” said Alexander Oviawe, the founder and CEO of Precision Sports Technologies.