Veo, a Copenhagen, Norway-primarily based startup that delivers an “AI camera” to make it less difficult for amateur soccer clubs to video and stream matches, has raised $6 million in Series A funding.
Backing the round is U.S.-primarily based Courtside Manager and France’s Ventech Capital. Veo says the new capital will be utilised to launch in the U.S.
Founded in 2015 by Henrik Teisbæk, Jesper Taxbøl and Keld Reinicke, Veo has set out to “democratise” the filming of soccers matches and coaching by negating the want for several camera operators and/or a vision mixer.
It does this by employing a 4K lens camera that records the whole pitch (it’s developed to be mounted on a 23 foot tripod for optimal view), coupled with its AI video technologies that processes the resulting video. This sees Veo stick to the action by way of virtual panning and zooming, to produce a Television-like viewing expertise.
As we’ve noted ahead of, that does imply a portion of the image will usually be cropped out, resulting in a loss of resolution all round. On the other hand, the thought is that by beginning with 4K the video high-quality is much more than enough for playback on smaller sized screens, such as smartphones and tablets.
“Our immediate goal is to establish a foothold for Veo on the U.S. market, and a lot of the investment will go towards achieving that,” Veo CEO Henrik Teisbæk tells TechCrunch with regards to the new funding round. “In the long term, we want to use our U.S. market presence as a stepping stone towards becoming a central player on the global football market, and to hopefully break into other sports”.
Teisbæk says the U.S. was selected mainly because 1 of the “biggest and most exciting” soccer markets, and North American soccer players, coaches, clubs and associations are incredibly information driven and open to new technologies. “That represents a huge potential for us,” he adds.
Meanwhile, Veo says that in the final year it has observed 25,000 games recorded by 1,000 clubs in 50 nations. The organization now employs 35 folks in its Copenhagen HQ, exactly where it develops the Veo computer software and hardware.