RaceRanger Opens US$1M Raise to Take Its Drafting Detection Technology to Every Bike in Triathlon

August 21, 2026

The New Zealand start up behind the world’s first drafting detection system — now serving 63 professional races worldwide in 2026 — opens the remainder of a US$1 million raise to wholesale and accredited investors, to scale the system to the sport’s amateur ranks.

Investor notice: the investment opportunity described in this release is open only to wholesale investors under New Zealand law. It is not open to retail investors.

CHRISTCHURCH, New Zealand – Friday 21^st August 2026 /ENDURANCE SPORTSWIRE/ – RaceRanger, the company behind the world’s first drafting-detection system for triathlon, today announced a US$1 million funding round to scale its technology from the professional fields to the sport’s amateur athletes.

RaceRanger’s existing backers – a global group of more than 50 investors that includes professional athletes – moved quickly to take up the majority of the round, committing approximately US$600,000 in under three weeks; a vote of confidence in the company’s trajectory. The balance is now being opened to new investors who meet wholesale, accredited or equivalent investor criteria.

The driver for the raise is the completion of the build and deployment of 900 sets of third-generation devices while adding engineering and operational capability, as the company prepares to significantly scale up its operations and delivery capacity to serve amateur athletes.

The biggest problem in triathlon

Drafting – illegally riding in the slipstream behind a competitor – is the most contentious integrity problem and source of negative athlete experiences in triathlon. Frustrated and dissatisfied athletes – particularly those at the competitive end of the age groups – are prone to grow disillusioned with the sport and move on to other challenges, impacting retention and growth of the sport.

RaceRanger addresses the issue: a pair of devices on each bike accurately measures the gap to the rider ahead and displays it as a simple colour-coded light signal, so athletes know the distance, referees have the same information, and there is no guesswork required.

A fast-growing solution

Since its first outings in 2023, adoption has accelerated rapidly – from 17 races, to 37 in 2025 and 63 professional races worldwide in 2026, spanning the IRONMAN, T100 World Tour, and World Triathlon calendars alongside major independents such as Challenge Roth, and the 2024 Paris Paralympic Games. This past weekend saw the system used at the IRONMAN Pro Series event in Kalmar, Sweden, the T100 World Tour event in Vancouver, Canada, and IRONMAN 70.3 Northern California.

Reshaping the rulebook

RaceRanger data is now reshaping the sport itself. Earlier this year, on the strength of data generated across two dedicated testing sessions with pro athletes using RaceRanger devices, IRONMAN extended its professional race drafting zone from 12 metres to 20 metres – the biggest rule change in professional triathlon in the last decade.

The Target: a mass amateur market

Pro racing use since 2023 has proven and matured the technology; the amateur ranks will be where it will now scale towards the company’s goal of putting RaceRanger on every bike in the sport. The addition of new features making the system valuable and genuinely useful at both ends of the sport are where RaceRanger’s real opportunity lies.

Two major age-group events – New Zealand’s Tauranga Half (January 2027) and Challenge Wānaka 100 (February 2027) – have already signed on to fit RaceRanger to their entire fields, each with around 800 athletes, where the company’s vision for larger scale use will be demonstrated.

Built to scale: third-generation devices deploying now

The raise underwrites RaceRanger’s third-generation (Gen 3) hardware – 900 device sets now being manufactured and deploying through 2026. Engineered for fields of thousands of athletes per event, the new units are designed to a higher waterproofing standard to accelerate post-race cleaning, and are QR-paired through a new back-end system to streamline distribution, bike check-in and retrieval management. Each rear device also includes a 4G connection.

The raise also allows further key hires to accommodate the planned growth.

Beyond detection: a live data ecosystem

RaceRanger’s new generation of devices will soon be capable of streaming live data to the cloud, opening new service offerings from hardware already in the field: richer live broadcast data for pro race promoters, a connected officials’ app with actionable data for more effective officiating, real-time positioning for an added athlete safety element, and live GPS based tracking for family and supporters.

The data recorded can also be delivered post-race to pros and age-groupers alike as individualised deep-dive reports providing significantly more peer comparison information than offered by their swim, bike, run and transition times of today.

“We set out to solve the single biggest problem in our sport, and the professional field has voted with its calendar. We are continually being contacted and asked when the system will be made available to competitive age groupers, and this has been where we have focussed R&D for the last 18 months. We’ve worked on the operational scalability, while providing benefits outside the core drafting detection for the less competitive portion of the field. If rolled out in the right way, we see no reason why age-groupers shouldn’t be given the same race day experience improvements that pros around the world have become accustomed to.” said James Elvery, Co-Founder and CEO of RaceRanger.

“This raise is about that next step: rolling out the scalability adjustments and additional features beyond the core drafting detection service, to take RaceRanger from the pros to the hundreds of thousands of amateurs who take on a long-distance tri every year. We believe they, their fans, supporters, and the race organisers all deserve an even better race day experience.”

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About RaceRanger

RaceRanger (Precision Triathlon Systems Limited) is a New Zealand sports-technology company that has built the world’s first drafting-detection system for triathlon. Founded by two ex-pro triathletes, its devices give athletes real-time, light-based indications of the gap to the rider ahead, providing referees with accurate, objective data. First deployed in 2023 and based in Christchurch, New Zealand, RaceRanger is used at professional races across the IRONMAN, T100 and World Triathlon calendars and will begin delivery to age-group events in early 2027. Learn more at raceranger.com.

Investor enquiries

This announcement is not itself an offer of securities. The opportunity is open only to investors who qualify as wholesale investors (including eligible investors) under New Zealand law, it is not open to retail investors. Prospective investors who wish to learn more can register their interest directly with the CEO; James.Elvery@RaceRanger.com. Any participation will be made solely through the company’s definitive offering and subscription documents and is subject to verification of investor eligibility.

Media contact

James Elvery – Co-Founder & CEO, RaceRanger

James.Elvery@RaceRanger.com

Notes to editors

No offer of securities. This press release is for informational purposes only and is not, and shall not be construed as, an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. The securities described have not been and will not be registered under the U.S. Securities Act of 1933 (the “Securities Act”) or the securities laws of any state or other jurisdiction. Any offer or sale of securities in the United States will be made only to persons reasonably believed to be “accredited investors” (as defined in Rule 501 of Regulation D) in reliance on the exemption from registration under Rule 506(c) of Regulation D, and will be subject to verification of accredited-investor status. Offers and sales outside the United States will be made in reliance on Regulation S or other applicable exemptions, and in New Zealand only to wholesale / eligible investors or otherwise in accordance with the Financial Markets Conduct Act 2013. In Australia, any offers will be made only to sophisticated or professional investors within the meaning of section 708 of the Corporations Act 2001 (Cth); in the United Kingdom, this communication is directed only at persons to whom it may lawfully be communicated under the Financial Services and Markets Act 2000; in Canada, only to persons qualifying as “accredited investors” within the meaning of National Instrument 45-106 (Prospectus Exemptions); in the European Economic Area, only in circumstances that do not require the publication of a prospectus under the EU Prospectus Regulation (2017/1129); and in other jurisdictions, only to persons to whom offers may lawfully be made. No action has been or will be taken to permit a public offering of these securities in any jurisdiction. Any investment will be made solely on the basis of the company’s definitive offering and subscription documents. Monetary figures are indicative, stated in US dollars unless otherwise noted, and may differ from amounts denominated in the company’s functional currency (New Zealand dollars).

Forward-looking statements. This release contains forward-looking statements regarding RaceRanger’s plans, market opportunities, product manufacturing and deployment, commercial arrangements and financial expectations. These statements reflect current expectations and involve known and unknown risks and uncertainties; actual results may differ materially. RaceRanger undertakes no obligation to update any forward-looking statement except as required by law.

Third-party names. IRONMAN, T100, the Professional Triathletes Organisation (PTO), World Triathlon, the UCI, Challenge and other event, organisation and brand names are the property of their respective owners and are referenced here for identification purposes only; their inclusion does not imply endorsement.