A sportstech startup based in regional Victoria plans to use a $148,000 investment from Breakthrough Victoria to continue ramping up its expansion plans both locally and overseas and expand its product offerings.
As the 2023 Women’s World Cup shines a bright light on women’s football, Geelong-based women’s impact protection sportswear startup Zena Sport is making strides with the world’s only scientifically tested chest protection vest for women and girls in contact sports, such as AFL, rugby, basketball, and soccer.
The investment from Breakthrough Victoria, which was a pre-seed investment as part of Zena Sport’s first external fundraising round, will allow the startup to scale globally, particularly through increasing marketing in Australia, the US, and Europe, building its business development team and creating up to 12 local jobs within two years.
The startup, which was founded by husband-and-wife team Donna and Brad Johnson in 2018, also plans to progress product development and launch the next iteration of the Zena Sport Z1 Vest to expand its product offering.
CEO Donna Johnson told SmartCompany she is grateful for the investment from Breakthrough Victoria and for the independent investment company’s belief in Zena Sport’s product.
“It’s a really exciting time for us to close our investment round and have the support of Breakthrough Victoria and the other investors involved,” she says.
“For us, it’s just reassuring to know we’ve got that backing and that support. They believe in the product and see the need for such a product in women’s sport.
“This gives us an amazing opportunity now to sit down and really structure how we move forward, scale and grow the business, continue to develop female-specific garments, as well as expanding overseas.”
Other investors in the round include Carbine, the Smorgon Family and Euphemia.
Breakthrough Victoria CEO Grant Dooley said Zena has the potential to grow at a global scale and create local jobs in Geelong.
“When we make an investment, we are looking for three key things – is this technology a breakthrough innovation, will it have a positive impact on the lives of Victorians and will it deliver long-term financial returns for Victoria,” he said.
“We believe Zena Sport hits these criteria.
“The Zena Sport Z1 Vest is uniquely positioned in the market with a design that has been scientifically proven to offer impact protection for women in contact sport, which means more women and girls can participate in the sports they love and play at their full potential without fear or risk of injury.“
Dooley said helping companies like Zena that are driving innovation and making a positive difference in people’s lives is at the heart of what Breakthrough Victoria does.
“By investing in Zena Sport, we can help the company grow and hopefully encourage more girls and women to play the sports they love without fear of injury,” he said.
“Zena is well positioned to be a leader in breast injury prevention through its partnerships with clubs across different sporting codes.
“Its research partnership with Deakin University means that it is also driving research into the risks and impacts of breast injury, which is not currently widely understood or reported.”
The new funding comes three months after Zena Sport won one of four Amazon Australia’s Launchpad Innovation Grants for 2023, valued at more than $90,000.
