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The Pitch Deck That Golf Startup Stix Used to Increase $ 10 Million

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  • Stix is ​​a startup that goals to promote high quality golf golf equipment at an inexpensive value.
  • Its founder and CEO Gabe Coyne stated he desires to decrease the limitations to play the game.
  • See the pitch deck that Stix used to lift a $ 10 million Sequence A spherical in Could.

Gabe Coyne has at all times had a ardour for bringing new concepts to life. For him, the most effective ones are those who tackle private ache factors.

Again in 2019, throughout a spherical of golf at a municipal course in Chicago, Coyne and his buddies skilled the ache level that sparked the concept for the startup Stix.

“We had been all rocking 20-year-old gear,” Coyne advised Insider.

Picture of Gabe Coyne, the CEO of Stix and one of five cofounders.

Gabe Coyne is the CEO of Stix and is one among 5 cofounders.

Stix


He stated that whereas he and his buddies may afford new golf golf equipment, they could not justify dropping hundreds of {dollars} on professional-level tools to play the game recreationally. They had been additionally pissed off by the tech jargon and complicated becoming necessities that went into shopping for a brand new golf set.

“What I would like is any person to make it straightforward for me, like, ‘Look, here is one thing that is lovely, performs properly – simply purchase it,'” Coyne stated.

Nonetheless, Coyne and his cofounders did not wish to create one other starter set for learners. They wished Stix to function within the “center” – between starter units and pro-level golf equipment – as a golfer’s first or lengthy overdue improve.

The founders noticed that there have been different industries that had manufacturers that had been profitable in creating high-quality merchandise at inexpensive costs. These had been the likes of Harry’s for shaving, Allbirds for sneakers, and Casper for mattresses. They positioned Stix equally within the golf business – one which’s infamous for prime prices as a barrier to enter the game.

“The purpose is to disrupt what’s traditionally an elitist unique tradition and make it accessible to everybody,” Coyne stated.

A 14-club set of Stix retails at $ 999 on its web site, and a set of 9 golf equipment prices $ 699. Whereas there are golf units by identified manufacturers that function inside this worth vary, professional-level units can value greater than $ 3,000, with drivers alone costing greater than a full Stix set.

Former skilled golfer turned YouTuber Rick Shiels stated in a video that there are secondhand golf units that present superior efficiency at a less expensive value, however known as Stix “the most effective pound-for-pound golf golf equipment you should buy which can be model new.”

Past affordability, Coyne additionally stated Stix accommodates all participant sorts, no matter age or gender.

“If [a woman] went purchasing for golf golf equipment, it is often a condescending scenario, “Coyne stated.” They’re like, ‘Oh, you are a woman? There’s one field at the back of the shop for you, and it is pink. ‘”

Stix units are the identical for all gamers, differing solely within the shaft flex and size of the golf equipment which golfers can alter relying on what works finest for them. In addition they have descriptions on the location to make it easy to know the right way to make a purchase order.

A model poses with the Stix putter on a golf green.


Stix


The startup closed in Could a $ 10 million Sequence A funding spherical with investments from Verance Capital, 2.0 Ventures, and Spacestation Investments. Coyne stated his crew di lui raised about $ 4 million previous to this newest funding spherical, from relations of the cofounders, his enterprise agency Prota Ventures, and some angel buyers, amongst others.

Coyne stated he spent about six months pitching greater than 50 buyers and located that lots of them had been extra eager about “shopper enablement” – or the tech that drives manufacturers – than shopper merchandise. He stated he ultimately discovered the “proper match,” however sooner or later, he plans to be extra focused when selecting buyers to pitch his thought.

This is the 14-slide pitch deck that Stix used to lift $ 10 million in Sequence A funding in 2022:

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