Veo has now raised US$113 million to further its ambitions
Copenhagen-based startup was named one in every of SportsPro’s ‘Ideas to spend money on’ for 2022
Danish startup Veo has raised US$80 million in extra funding to broaden the attain of its synthetic intelligence (AI) video camera expertise.
The Series C round was led by ATP, the fourth largest pension fund in Europe, which joins current buyers Seed Capital, Ventech and Chr. Augustinus Fabrikker.
Veo has now raised a complete of US$113 million, together with a US$22.5 million Series B round final January, and says this newest funding will assist it obtain its ambition of constructing its clever camera platform out there to each sports activities membership on the planet, from grassroots as much as an elite degree.
The firm was based in Copenhagen in 2015 and is growing clever sports activities camera expertise that routinely captures dwell matches and coaching periods. This footage may be both dwell streamed or fed into knowledge analytics platforms, serving to develop viewers and drive efficiency.
Essentially, Veo democratises the efficiency evaluation capabilities that elite athletes have change into accustomed to. Veo employs 220 individuals in eight nations and its merchandise are utilized by 15,000 golf equipment in 80 nations. To date, multiple million matches have been recorded.
“Since we launched our first camera three years in the past, we’ve seen large demand worldwide,” stated Henrik Teisbæk, Veo chief govt. “Last 12 months, we tripled our buyer base, and just lately we rounded up one million recorded matches with Veo, so we’ve confirmed that the necessity exists on the market within the sports activities world.
“Many of the world’s finest golf equipment are clients of Veo at present, however our long-term purpose is to assist golf equipment of all ranges report their matches and coaching periods. With this funding round, we will put strain on these ambitions, and we plan to make use of over 200 individuals over the subsequent two years.”
“At ATP, we’ve a particular accountability to speculate responsibly and contribute to creating the profitable Danish firms of the longer term,” added Anja Bach Eriksson, director of ATP Long-Term Danish Capital. “Veo has managed to interrupt via within the American market and, on the similar time, preserve its manufacturing and growth right here in Denmark. Veo’s world potential as a Danish firm is engaging to us.”
Earlier this 12 months, Veo was named as one in every of SportsPro’s 20 sports activities tech concepts to spend money on now class of 2022.
https://www.sportspromedia.com/news/veo-ai-camera-series-c-funding/
