Veo secures raises €20 million in a funding round led by Chr. Augustinus Fabrikker,

Veo, a Copenhagen, Denmark-based developer of sports camera and AI technology, announced securing a funding round of €20 million ($24.5M).

The money was raised from investors led by Chr. Augustinus Fabrikker with participation from Seed Capital and existing Veo investors, US-based Courtside VC, and French investors Ventech.

Proceds will be used to expand into the global market and expand its technology cases to new sports.

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 it sold its product to almost 5,000 clubs in 79 countries since they opened for sales in 2018.

Veo previously raised about $8 million, with the last round of $6 million announced in 2019.