Veo Secures $25M to Revolutionize Sports Recording with AI-Powered Cameras
The Future of Sports Filming: Autonomous, Affordable, and AI-Driven
In the high-stakes world of sports media, production costs have traditionally limited coverage to elite leagues and events. But Copenhagen-based startup Veo Technologies is changing the game with its AI-powered cameras and cloud platform, enabling any team—from amateur clubs to professional academies—to record, analyze, and share their matches effortlessly.
The company recently raised €20 million (~$24.5M) in a Series B round led by Danish investor Chr. Augustinus Fabrikker, with participation from Courtside VC, Ventech, and SEED Capital. While Veo hasn’t disclosed its valuation, sources indicate it exceeds $100 million.
How Veo’s Technology Works
Veo’s innovative system combines autonomous cameras with AI-driven video analysis to deliver:
- Wide-angle recording: Captures the entire field or court without manual operation.
- Automated highlights: AI identifies key moments, eliminating the need for post-production editing.
- Cloud-based platform: Teams can access, share, and analyze footage for training, recruitment, or fan engagement.
Key Features:
- Camera cost: $800 (one-time purchase)
- Subscription: $1,200/year (includes cloud storage and AI processing)
- Sports supported: Football (soccer), rugby, basketball, hockey, and expanding.
Image Credits: Veo Technologies
Growth Amidst a Pandemic
Despite COVID-19 disruptions—which halted many amateur leagues—Veo has seen explosive adoption:
- 5,000+ clubs globally (up from 1,000 in 2019)
- 200,000+ games recorded since 2018, with a surge in U.S. demand
- 400% customer growth in two years
Pandemic-Driven Use Cases
With restrictions limiting live spectators, Veo’s cameras became essential for:
- Remote viewing: Parents and fans could watch games safely.
- Talent development: Coaches used footage for training and player evaluation.
- Recruitment: Athletes shared highlight reels with colleges and scouts.
From Amateur Leagues to Professional Clubs
Veo’s initial focus was the “long tail” of sports—countless amateur matches with small but dedicated audiences. However, its technology has also gained traction with top-tier teams:
- Premier League, La Liga, Serie A, and MLS clubs use Veo for:
- Academy training
- Supplemental game analysis
- Scouting and development
A “Shopify, Not an Amazon” Approach
CEO Henrik Teisbæk emphasizes Veo’s role as an enabler, not a content monopolist:
“We’re not building the next ESPN. We’re helping clubs unlock connections through technology—capturing and streaming matches for their existing audiences.”
Investor Insights: The Bigger Picture
Vasu Kulkarni of Courtside VC (investor in The Athletic, Beam) sees Veo as a game-changer:
- Cost-effective filming: AI eliminates the need for expensive production crews.
- Highlight automation: AI can curate the best plays for broader appeal.
- Future potential: Amateur footage could become valuable as players rise to stardom.
“AI will pull out the top 10-15 plays and stitch them into highlight reels,” Kulkarni predicts. “Imagine discovering the next Michael Jordan through Veo’s footage.”
The Road Ahead
Veo plans to:
- Expand U.S. operations (opening a Miami office).
- Enhance AI capabilities for more sports and deeper analytics.
- Democratize sports coverage—making professional-grade recording accessible to all.
As Teisbæk puts it: “The more video you get from sports, the better it becomes—for players, coaches, and fans alike.”
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