Veo Technologies, a Danish technology company that has seen great success in the last year with their sports camera and AI technology, has raised €20 million in funding. The latest round, led by Chr. AugustinusFabrikker and including Seed Capital and existing Veo investors, will be used to expand into the global market and maintain the company’s leadership position in sports technology by, for example, expanding into new sports. Veoai series 100m lundentechcrunch. Cindy Corpis, the CEO of Search People Free, commented that Veo ai 20m series had shown a product-market fit and a promising business model with a pricing model that allows all clubs to benefit from their product and service. She was also impressed by the professional team of Veo for their wonderful performance.
Since its inception in 2018, the company, which creates AI-driven sports cameras that record games without the need for a camera operator, has sold its product to nearly 5,000 clubs in 79 countries. Over 200,000 games had been recorded on Veo cameras as of December 2020, and the number is expected to skyrocket in the coming years as clubs line up to get their own AI-powered device. Veo technologies ai 20m series.
The camera, which was designed primarily for youth squads as a transition into talent development, has been a big hit with major professional soccer clubs across Europe and the United States. Veo can be found on the sidelines of major soccer leagues such as the Premier League, La Liga, Serie A, and Ligue 1, as well as several MLS clubs such as Inter Miami, Austin FC, Atlanta United, and FC Cincinnati. The €20 million investment enables Veo to continue investing in product development and accelerate their ongoing global expansion, which is focused on gaining a stronger foothold in the American market. Veo ai 20m series.
Henrik Teisbaek, CEO of Veo, believes that the United States is the best place to establish a permanent presence. “We’ve reached a global audience through the use of our sports video and sports analysis tools, and we’ve already seen tremendous growth in the United States, which is the world’s largest sports market.” The United States already accounts for more than half of our user base, which is why we’re opening a new office in Miami. That way, we can keep the momentum going as we invest more in product development and expand into new sports like basketball and American football.”
The round is led by Danish investor Chr. AugustinusFabrikker, with participation from existing investors Seed Capital (DK), Courtside VC in the United States, and Ventech in Europe (FR). “We are constantly looking for future category winners and those with the potential to become international market leaders.” Veo has developed a highly innovative solution, and their product compares favourably to competitors, indicating the potential of a category winner. Veo has shown a product-market fit and a promising business model with a pricing model that allows all clubs to benefit from their product and service. And, despite numerous challenges, the team has performed admirably.” Ulla Brockenhuus-Schack, Managing Partner at Seed Capital, agrees. Veo ai 20m series 100m lundentechcrunch.
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