SportAI funding news – Oslo-based SportAI Secures €1.6 Million in Seed Funding

Sverre Munck (former EVP at Schibsted), Dekel Valtzer (former professional tennis player and creator of an AI firm), and MP Pensjon (a pension fund in Norway) are among the other attendees. The all-time greatest chess player, Magnus Carlsen, is an investor and advisor for SportAI in their pre-seed round.

The goal of this seed fundraising round is to grow the team, penetrate more markets, and accelerate SportAI's technological growth. In June 2024, the business signed its first commercial contract, which it will soon reveal.

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It provides immediate, individualized feedback for better performance by analyzing players' technique in real-time, such as their padel, tennis, or golf swing (demo here). An individual's approach may be quickly compared to thousands of other players, including elite athletes, using machine learning, computer vision, and biometric technologies. This allows for accurate and unbiased textual and visual critique.

It is a platform that provides millions of players with automated data-based analysis; normally, this kind of service is only accessible to professional players who can afford to hire performance analysts. Equipment manufacturers can use the technology to offer products based on a player's individual technique, and broadcasters can utilize it to improve audience experience via instantaneous technique analysis during live sporting events.

Lauren Pedersen, CEO and co-founder of SportAI, commented: “We are thrilled to have Skyfall Ventures lead our seed round, which underscores the growing confidence in SportAI’s potential to disrupt the sports industry with our state-of-the-art technology. This funding will enable us to accelerate the development of our AI-driven solutions and expand our reach within the sports industry. We are committed to harnessing the power of AI to democratise access to high-quality sports data and achieve sports excellence.”

It can analyze video from broadcast feeds, mobile phones, and cameras installed at courts or sports arenas without regard to technology. For the first time, technique analysis is scalable, objective, and reasonably priced thanks to technology. Video analysis used to need coaches to manually tag videos using specialized apparatus, which hampered its scalability and lifespan.

Jon Kåre Stene, Partner and Co-Founder of Skyfall Ventures, added: “Skyfall Ventures is proud to support SportAI in their mission to make world-class expertise accessible to all. Like OpenAI’s ambition to make intelligence abundant and accessible, SportAI is working to ensure that everybody has access to the best sports training in the world. SportAI’s innovative approach and cutting-edge solutions align perfectly with our focus on investing in high-growth technology startups. We are excited to contribute to their journey and help them achieve substantial market success.”

About SportAI

In late 2023, tech startup heavyweights Trond Kittelsen (founder of the tennis app) and Espen Agdestein (Board member) joined forces with former NCAA tennis player Lauren Pedersen (CEO), Felipe Longé (CTO), and Andreas Thome (Board Chairman, former CEO of Play Magnus) to form SportAI, which has its headquarters in Oslo. A platform for quick, accurate, and scalable AI-powered sport technique analysis is provided by SportAI, a B2B sports technology firm.