Veo in a DKK 550 million equity deal backed by Chr. Augustinus Fabrikker, Ventech and Seed Capital.

Veo, a Copenhagen, Denmark-based developer of sports camera and AI technology, raised a new equity round closed at DKK 550 million ($79M).

The money was raised from investors including Chr. Augustinus Fabrikker, Ventech, Seed Capital and the Danish pension fund ATP via the ATP Langsigtet Dansk Kapital.

Veo, founded in 2015 as Sportcaster by Henrik Teisbæk (CEO), Jesper Taxbøl and Keld Reinicke, developed an affordable camera wearable that can be used for creating automatic broadcasts of football matches and practices with minimum human overheads. The company says that its product is used by 15,000 clubs in 80 countries, backed by about 200 employees, most of whom work from the company's office in Copenhagen.

Veo previously raised more than $30 million, with a round $25 million round closed in 2021 and a $6 million announced in 2019.