Pixellot, an Israel-based sports video technology provider backed by internet group Baidu, closed a $16m funding round yesterday led by investment house Altshuler-Shaham that included all its existing investors.
Founded in 2013, Pixellot provides technology that creates a stitched panoramic image of an entire sports field, enabling sporting coverage and highlight generation to be automated and graphics to be added. It will put the funding into sales and marketing.
The company had raised a total of more than $40m as of a $30m round led by investment firm Shamrock Capital in 2018 that included unnamed existing backers. Baidu had invested $3m in Pixellot in 2014 and its earlier shareholders include TheTime and Firstime Ventures.
Alon Werber, Pixellot’s chief executive, said: “Even Division One leagues worldwide are much more cost-conscious and are now showing a growing interest in our automated video analysis and analytics solution.
“We are happy that our investors realised this unique situation and unanimously agreed that there is a need to double-down on our commercial activity. We believe automatic production is a solution that will eventually lead to better engagement between teams and fans.”
Photo courtesy of Pixellot Ltd.
