Montreal-based Sportlogiq has announced it’s received an investment of $1.7 million, lead by Tim Tokarsky and includes an investment from famed entrepreneur and owner of the Dallas Mavericks Mark Cuban. Included in this round is follow-on participation from tech incubator TandemLaunch, and an investment from Anges Quebec Capital S.E.C. along with 18 angel investors.
Sportlogiq now has 10 employees and developed technology that provides advanced sports analytics to broadcast media and professional teams, which is why the Cuban connection. According to its site, Sportlogiq has tech “player tracking and activity recognition algorithms generate detailed game statistics using standard, single-camera game footage.”
“We are pleased to see such enthusiastic support from our visionary investors and brilliant academic collaborators”, said Craig Buntin, Olympic athlete, co-founder and CEO of Sportlogiq. “The sports analytics market is growing rapidly and video will continue to be a primary component of that market at every level of sport. We envision a future where statistics will be available in any game, recorded by any camera, anywhere in the world, and this financing round is a tremendous milestone in realizing that vision.”
“Until now, player tracking has only been possible through the use of multiple cameras or chips on players.” said Mehrsan Javan, co-founder and CTO of Sportlogiq. “Our objective is to eliminate those hardware requirements using state-of-the-art computer vision algorithms. This financing will allow us to improve the efficiency of our system and reduce the processing time per game, ensuring that the system is scalable.”
This seed round will help the company develop and commercialize software its player tracking and analytics platform.