Sportway raises $20M at billion-krona valuation, backed by Juventus owner

Swedish sports tech company Sportway has set an ambitious goal to stream millions of matches annually using artificial intelligence. The company is experiencing rapid growth and has just closed a new funding round of 200 million Swedish kronor (approximately $20 million), achieving a billion-krona valuation. The investment round features a prominent Italian trio on the shareholder list, including Andrea Agnelli, owner of Juventus and Ferrari, and former Serie A professional Giorgio Chiellini.

Sportway's core technology leverages AI to automate the production and streaming of sports events. The platform can handle everything from amateur leagues to professional tournaments, optimizing camera angles, real-time statistics, and broadcast quality without human intervention. This makes live streaming accessible and cost-effective for smaller sports organizations that previously could not afford traditional production costs.

The involvement of high-profile investors like Agnelli and Chiellini underscores the credibility and potential of Sportway's business model. Agnelli's deep connections in the sports and luxury automotive industries could open doors for strategic partnerships and global expansion. The company plans to use the new capital to enhance its AI capabilities and enter new markets, particularly in Asia and the Americas.

Sportway's growth strategy focuses on scaling its platform to handle millions of events per year. Currently operating primarily in Sweden and other European countries, the company aims to become a global leader in automated sports broadcasting. The funding will also support marketing efforts and the development of additional features, such as personalized viewing experiences and advanced analytics for teams and leagues.

The success of Sportway highlights the increasing role of AI in transforming the sports media landscape. By democratizing access to live sports broadcasting, the company enables more athletes and teams to gain visibility, fostering a more inclusive sports ecosystem. This trend is expected to accelerate as AI technology continues to evolve and become more affordable.