Sportlogiq, a portfolio company of the Montreal-based technology incubator TandemLaunch, has raised a seed round.
The financing was lead by Tim Tokarsky and includes an investment from Mark Cuban, billionaire investor and owner of the Dallas Mavericks. Also included in the financing round is a follow-on participation of TandemLaunch and an investment from Anges Quebec Capital S.E.C. along with 18 angel investors.
Funds raised in this round will be used to continue to develop and commercialize the company’s player tracking and analytics platform, according to the startup, which uses standard, single camera game footage to generate statistics.
“We are pleased to see such enthusiastic support from our visionary investors and brilliant academic collaborators,” said Craig Buntin, Olympic athlete, cofounder and CEO of Sportlogiq. “The sports analytics market is growing rapidly and video will continue to be a primary component of that market at every level of sport.”
“Until now, player tracking has only been possible through the use of multiple cameras or chips on players,” said Mehrsan Javan, cofounder and CTO of Sportlogiq. “Our objective is to eliminate those hardware requirements using state-of-the-art computer vision algorithms.”
The technology was originally developed by Javan as his PhD thesis under the supervision of Martin Levine at McGill University.