But in sports, interest in AI predates ChatGPT.
While generative AI startups are attracting more investment overall, 2023 could be a notably slow year for venture capital investment in sports AI following several years of activity, according to new data from PitchBook.
After a whopping $783.5 million of VC funding was channeled globally in 2022 into sports AI, only $152.7 has been invested in 2023 through mid-October, per PitchBook. The year could mark the lowest level of investment in the sector since 2018 when PitchBook tracked just under $200 million in VC activity.
The number of deals has also fallen in 2023 from the more active years of 2021 and 2022. Both those years had 114 VC investments, compared to just 54 in 2023 through mid-October, PitchBook data shows.
These are the top 16 highest-valued sports AI companies globally in 2023, according to PitchBook:
1) SigmaStar — $4.55 billion. The Chinese company produces chips for cameras and video recorders used in sports, security systems, self-driving cars, and other tech.
2) SmartNews — $1.99 billion. The Japanese company founded in 2012, according to its website, aggregates articles and online information that its machine learning algorithms think users will want, from sports, business, politics, and other news areas.
3) DeepGlint — $1.15 billion. The Beijing-based computer vision technology company offers solutions in sports and health, evaluating movement in real-time, according to its website. The company boasts a case study of its technology along a running trail that analyzes posture and gives suggestions for runners.
4) Yi Technology — $892 million. The Chinese video imaging and vision tech company claims on its website to have a “leading image processor for sports cameras.”
5) WSC Sports — $695 million. Headquartered in Israel, WSC Sports analyzes live broadcasts to create custom highlights for fans and teams. A case study with the Cleveland Cavaliers shows how the tech works: each play is captured separately for the Cavs staff, and certain highlight plays can be set to automatically distribute across social channels or personalized in the team’s app.
6) Aimlabs — $550 million. The New York-based gaming company helps gamers level up their skills, including a personal AI assistant that gives personalized feedback and training exercises.
7) Kakao VX — $532 million. The South Korean gaming company Kakao Games created Kakao VX as an offshoot specializing in indoor golf simulators that use AI and augmented reality to help golfers train and correct their form.
8) Pixellot — $500 million. The Israeli company specializes in AI sports cameras that capture movement and pair with the company’s data arm to break down analytics by player and play. The software is designed for coaches and used in professional soccer across Europe and Mexico.
9) Hudl — $460 million. Based in Lincoln, Nebraska, Hudl takes game footage and creates a report of analytics within 24 hours, the company’s website says. The technology works with more than 40 sports and is used by more than 230,000 high school, college, and pro teams, according to the website.
10) STATSports — $320 million. Founded in Northern Ireland, STATSports makes wearable technology that monitors athlete movements using GPS and provides analysis for their coaches. Hundreds of college and professional teams use the technology, including Arsenal FC, the US Women’s National Soccer Team, Duke University, and the Kansas City Chiefs, according to the company’s website.
11) Creatz — $295 million. The South Korean golf simulator company developed in 2022 AI coaching that tracks swings to give users personalized feedback.
12) Ligatech — $259 million. Shanghai-based biotech company Ligatech specializes in orthopedic sports medicine and medical equipment such as artificial ligaments and AI-powered imaging systems, according to PitchBook.
13) Tempus Ex — $237 million. San Francisco’s Tempus Ex, a partner with professional teams like Chelsea FC and leagues like the NFL that recently rebranded to Infinite Athlete, captures and analyzes live data and video for teams with its FusionFeed API.
14) Simplebet — $235 million. The New York-based micro-betting company is a B2B platform using machine learning to give real-time stats and lines on every play to sports-betting operators.
15 – tied) Second Spectrum — $200 million. Owned by data and tech company Genius Sports and based in Los Angeles, Second Spectrum utilizes machine intelligence to track games and give analytics in real-time to its partners the NBA, MLS, and Premier League. The company’s augmented video feature can be used by fans and broadcasters, floating stats such as a players’ shot percentage above their heads as the play unfolds just like a video game.
15 – tied) Zepp — $200 million. The smart health company makes smartwatches, sports and sleep-coaching algorithms, AI chips, biometric sensors, and more. The company is headquartered in China, though the Zepp AI Research Institute is based in Vancouver.
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