Veo, a startup company based out of Copenhagen, was able to raise $25 million to scale its business that uses AI cameras to record sports games.
The funding was led by Augustinus Fabrikker, a Danish investor. Veo’s CEO and co-founder, Henrik Teisbæk stated that the funding will be used in two different ways, the first is expanding into the United States with a Miami office. The second is that funding will be used is to continue to improve the technology.
Veo cameras are able to film sporting events on their own, which could drastically reduce the cost of filming games.
Teisbæk said that before Veo, "You need a guy sitting on a scaffold, and time and money to then cut that down to highlights. It’s just too cumbersome."
AI-Powered Sports Cameras
Veo Received Funding for Its AI Camera That Films and Edits Sports Games
Trend Themes
1. AI-powered Sports Cameras - The trend of AI-powered sports cameras is disrupting the way sports events are filmed and could revolutionize the sports industry.
2. Automated Video Editing - The trend of automated video editing through AI-powered cameras creates a disruptive innovation opportunity in the video production and editing industries.
3. Cost Reduction in Sports Filming - The trend of using AI-powered cameras to film sports events on their own is disrupting the sports industry by reducing filming costs and creating new opportunities for sports organizations.
Industry Implications
1. Sports Technology - The sports technology industry is experiencing disruptive innovation due to the trend of AI-powered sports cameras that are changing the way sports events are filmed and analyzed.
2. Video Production - The video production industry can benefit from the trend of automated video editing through AI-powered cameras, which can provide new capabilities for video producers and editors.
3. Sports Broadcasting - The trend of using AI-powered cameras in sports filming presents disruptive innovation opportunities for the sports broadcasting industry by creating new ways to capture and deliver sports events to viewers.