Connexa Sports Announces Another Successful Product Beta Test; Set to Release Slinger Bag Launcher for Padel this Fall to Global Market
Connexa Sports Technologies Inc.
The company is bringing its innovative Ball Launcher products into two new, high-growth racquet sport verticals this fall: Pickleball and Padel
BALTIMORE, July 14, 2022 (GLOBE NEWSWIRE) — Connexa Sports Technologies Inc. (Nasdaq: CNXA) (www.connexasports.com) is pleased to announce that its portfolio brand Slinger (www.slingerbag.com) has successfully completed another beta test of a new Ball Launcher – this time for the sport of padel. Well-known in tennis for its disruptive, affordable and innovative Ball Launcher, the company is expanding to both Pickleball (announced last month) and Padel this fall, and will follow the launch of these two new consumer Ball Launchers with supporting technologies aimed at on-court enjoyment and improvement.
Padel is one of the fastest growing sports in the world, with approximately half of its 25 million global players picking the sport up within the last five years. The sport is equally popular amongst men and women, and in several countries it is the second or third most popular participation sport, trailing only football.1 Spain alone has almost 5 million padel players, according to the Spanish Padel Federation.
The positive growth throughout racquet sports over the past few years is a trend that Connexa Sports intends to capitalize on, led in-market by its Ball Launchers. By creating affordable consumer products for tennis, pickleball and padel enthusiasts of all ages and abilities, the company’s goal is to attract new players to these sports, while also supporting lifelong amateurs, rising juniors, and professionals alike. The early pandemic social-distancing restrictions led to high growth and increased participation in across racquet sports, and padel has sustained this increase in interest,2 with many new facilities under construction and existing tennis facilities renovating to include padel as part of the offering.
“We have come to understand padel, its players, and the demands and needs of the sport over the past several years, and especially over the past few months in-market with our beta testers. We already have strong existing commercial and distributor partnerships in the sport, and particularly in areas of the world where padel is extremely popular,” said Connexa Sports CEO Mike Ballardie. “We are following our internal blueprint of thorough beta testing and ensuring product-market fit in terms of price point and overall value for both pickleball and padel, and we are eager to get these new products into the hands of consumers around the world this fall.”
A $600m sport and growing3, padel is almost always played in doubles. A padel court is about 25 percent smaller than a tennis court, and surrounded by walls on all sides. Unique to the sport, the ball remains playable if it hits the wall after being hit on the ground.
Beta Tester Feedback:
“Padel needs brands that are willing to invest in tools specific to the sport, and Slinger is a welcomed addition to help grow our exciting sport not only in Spain, but all over the globe,” said David Soriano, a Padel Coach at Sportcity in Valencia, Spain. “It is clear that Slinger values both quality and reliability, investing time and resources in the development of this Padel launcher, which places user satisfaction as the most important measure of success.”
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About Connexa Sports Technologies:
Connexa Sports a leading connected sports company delivering products, technologies, and services across the ‘Watch, Play, Learn’ commercial and subscription-as-a-service activities in sports. Digital disruption is restructuring how sports are enjoyed, consumed, and monetized, and Connexa Sports is well positioned to capitalize on this with its portfolio of brands: Slinger, PlaySight Interactive, Gameface.AI and Foundation Tennis.
With over one million users across its platform, Connexa’s mission is to reimagine sports.
Contact Information:
(443) 407-7564
Forward-Looking Statements
This press release contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995 that are based on management’s beliefs and assumptions and on information currently available to management. These statements involve risks, uncertainties and other factors that may cause actual results, levels of activity, performance or achievements to be materially different from the information expressed or implied by forward-looking statements. Forward-looking statements in this press release may include statements about our plans to obtain funding for our current and proposed operations and potential acquisition and expansion efforts; the ultimate impact of the COVID-19 pandemic, or any other health epidemic, on our business, our clientele or the global economy as a whole; debt obligations of the Company; our general history of operating losses; our ability to compete with companies producing products and services; the scope of protection we are able to establish and maintain for intellectual property rights covering our products and technology; the accuracy of our estimates regarding expenses, future revenue, capital requirements and needs for additional financing; our ability to develop and maintain our corporate infrastructure, including our internal controls; our ability to develop innovative new products; and our financial performance. In addition, statements that “we believe” and similar statements reflect our beliefs and opinions on the relevant subject. These statements are based upon information available to us as of the date of this press release, and while we believe such information forms a reasonable basis for such statements, such information may be limited or incomplete, and our statements should not be read to indicate that we have conducted an exhaustive inquiry into, or review of, all potentially available relevant information. These statements are inherently uncertain and investors are cautioned not to unduly rely upon these statements. We qualify all of our forward-looking statements by these cautionary statements. Forward-looking statements speak only as of the date they are made, and we do not undertake to update these statements other than as required by law. You are advised, however, to review any further disclosures we make on related subjects in our periodic filings with the Securities and Exchange Commission.
1https://www.padelfip.com/2022/02/01/a-bright-brilliant-new-dawn-for-padel/
2https://www.theguardian.com/world/2022/feb/11/padel-italy-takes-off-no-sport-such-success-so-short-time
3https://allracquetsports.com/why-us/#:~:text=Padel%20is%20a%20%24600%20million,is%20coming%20to%20the%20US
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