SPORTLOGiQ has announced a $5 million round of Series A funding.
The Montreal-based AI startup is comprised of leading researchers of computer vision and machine learning. SPORTLOGiQ’s advanced analytics platform helps track every player on a sport’s playing field, whether it be ice, grass pitch or diamond, and offer fans and teams alike the opportunity to watch the game in a way they never thought possible.
The funding round was led by Rho Canada Ventures L.P. and Anges Quebec Capital S.E.C. Those two joined early investors including Mark Cuban, TandemLaunch and 12 other prominent angel investors.
“SPORTLOGiQ has very quickly developed a leadership position in the fast-growing market for AI-powered sports analytics,” said Sean Brownlee, partner at Rho Canada Ventures. “What the team [has] developed over the last two years is impressive and we’re thrilled to be working together.”
SPORTLOGiQ’s computer vision tech tracks and analyzes a player’s in-game movements then transforms those data streams into actionable insights. Those insights may come in the form of important information for competitive sports teams to review and build on, or stats and figures for media broadcast partners to create narratives and storylines around. This funding round will continue to commercialize the computer vision platform and ramp up the player tracking system.
The key part of computer vision technology is that no extra hardware or tracking chips are needed to collect data. This is important as even the smallest addition of camera or sensor while on a playing field can disrupt an athlete’s motions and wildly impact the course of a game.
A prominent Swedish investor is also participating in the funding round with hopes to bring the technology to Europe and penetrate the soccer market, which is the largest sport in the world.
“This is a tremendously exciting time for AI, computer vision and machine learning,” said Craig Buntin, co-founder and CEO of SPORTLOGiQ. “The response from our customers over the past two years has been incredible, and seeing that same response from our investors has been truly amazing.”
SPORTLOGiQ last received funding in 2015 from Mark Cuban, among others.