TLDR:
- Spiideo, a Swedish AI video firm, receives $20 million in venture capital funding led by Cipio Partners and Ikea heir Mathias Kamprad.
- The funding will be used to expand employee teams and international sales for Spiideo, which provides automated video technology for sports applications.
The Swedish AI video firm Spiideo recently secured a $20 million venture capital investment from a group led by Cipio Partners and including Mathias Kamprad, the billionaire son of Ikea’s founder. Spiideo, known for its AI-powered video and analytics software used by teams in major leagues like the NBA, NHL, and English Premier League, serves about 4,000 teams worldwide. The company’s products provide multi-angle replay for officials and player training purposes, with every stadium in the NWSL equipped with Spiideo camera systems.
In addition to sports applications, Spiideo has also launched a deal with ESPN to automatically stream the 400 scholastic games hosted at the Orlando Wide World of Sports facility each week. The latest funding round marks the first investment in the company by Cipio, a German technology-focused business, and includes participation from Kamprad and other Swedish executives.
The funding will be used to expand various employee teams at Spiideo, including product development, AI, and international sales. The company generates approximately half its revenue from North America and serves leagues like MLS, NCAA, and the German Bundesliga. Among the clubs using Spiideo’s products are EPL clubs Brentford and Wolverhampton, Inter Milan of Serie A, and LA Galaxy of MLS.
Founded in 2012, Spiideo has raised a total of $40 million to date, with existing investors including NavisionGroup, Almi Invest, and Lund University. The company plans to use the latest funding to further expand its reach in the sports industry and enhance its automated video technology offerings.
