Pro Stringer is the smallest and lightest stringing machine in the world.
"I spent about $9000 on stringing my racquets in my first year," said Statham. "It was ridiculous considering what I was making."
At the professional level, racquet stringing is a precise art. Players have their racquets tuned to different tensions; some prefer more power, some focus on control. World No2 Roger Federer likes around 50 pounds of tension, while British star Andy Murray prefers up to 66 pounds.
Most players even need unused racquets to be re-strung overnight or they can lose tension, which in the exact science of a professional match might be the difference.
During the last week in Melbourne Venus Williams had at least five racquets strung each day, at an average cost of A$35 per racquet. It's small change for tennis millionaires but a huge cost for those outside the top 100.
Frustrated with the options, Statham began working with a Korean tennis fan he met by chance at a tournament, who happened to be an electronics engineer. The duo spent four years developing the concept, before going to the market in 2011.
"There are more than 2000 professional players out there - many in the same boat," said Statham, currently ranked 581 in the world.
"There weren't many alternatives but we've created something portable and easy to use.
"And it's electronic, so it allows you to measure the exact tension. There was no second guessing."
Statham estimates there are more than 500 professional players using his compact Pro Stringer machine, which weighs about 4kg and has been described as "the iPod of stringing machines".
"They are brilliant," said New Zealand No1 Michael Venus. "It's changed things for a lot of players."
The 27-year-old Statham says his opponents are often also customers, leading to some humorous situations.
"Last year in California, just after the coin toss, the guy I was about to play asked if I had a spare clamp for the machine," said Statham.
