Artificial Intelligence sports production leader Sportway closes latest financing round with additional 55 million SEK, all existing investors strengthening their position
Stockholm (29 September 2021) - Sportway, an industry leader in delivering automated video and data productions using artificial intelligence (AI) to film, produce and broadcast live games, announced today that all existing investors have increased upon their position to close out their latest round of funding with 55million SEK.
Financial backers include leading sports industry figures across Europe, including Commercial Sports Media with co-founder of Sportway Jonas Persson; Aidan Cooney, sports technology entrepreneur, founder of Opta and InCrowd; Tony Johansson, entrepreneur within the betting sector; Jonas Eriksson, former FIFA referee and partner at IEC in Sports, as well as Stefan Glevéns investment company Geltis, and Sportway CEO Daniel Franck.
Franck, Sportway's chief executive, said today: "We've delivered on hiring a world-class team and building out the largest AI-backed production network in Europe with ice hockey federation partnerships in Czech Republic, Denmark, Finland, Norway and Sweden. This financing will further fuel our momentum as we continue to expand across Europe and look for new opportunities across the spectrum of sports and other global territories."
Ensuring premium content on a personal level for players, families and fans, Sportway partners with leagues and federations to seamlessly stream their content in an automated and cost-efficient manner via their state-of-the-art AI production infrastructure. Currently, Sportway has nearly 500 systems installed across their European hockey arenas producing 150 000+ matches. Clubs, teams, leagues and federations are utilizing the technology to build new business models with subscription and pay-per-view revenue streams.
Sportway chairman Persson added: "Our growth trajectory has exceeded expectations, which underscores why all our investors have strengthened their position as part of this financing round. We're confident as we diversify our automated sports production solutions to new sports, like our latest announcement with the Swedish Tennis Federation, as we continue to innovate on how Sportway can deliver a seamless streaming solution for our partners, ensuring that all sports, on all levels, are available to everyone."
Together with their industry-leading AI live production partner Live Arena, Sportway's video productions are driven by an algorithm originally developed for ice hockey. All the action is captured using Sportway's fixed, unmanned cameras, which create a panoramic view of the entire rink, field or court. The patented AI technology then automatically follows the game by panning and zooming in on key action, providing a professional viewing experience. The technology also can be linked with league databases and game secretariats to automatically generate real-time graphics, as well as replays and post-game highlights. Additionally, teams can take advantage of technological benefits, including Sportway's exclusive Team Accounts to accelerate player development through data analysis and video coaching, as well as Situation Room capabilities to better ensure player safety.
As a sports industry leader in AI-production systems, Sportway provides end-to-end, fully automated video production of live events and advises federations, leagues, and clubs from any sport on how to maximize the potential of their product, including how to produce, market and monetize their media content. Sportway's network now has nearly 500 installed production systems and produce 150 000+ matches across Czech Republic, Denmark, Finland, Norway and Sweden, with expanded development across a wide spectrum of sports ranging basketball, volleyball, floorball, handball, football and other sports. Sportway strives to bring the power of live and on-demand video streaming to sports organizations everywhere, in order to ensure that all sports, on all levels, are available for everyone. These innovative production systems backed by Sportway's scalable business model help unlock a variety of benefits for participating federations, leagues and clubs, including additional revenue streams via subscriptions or pay-per-view monetization opportunities.