Sports Tech Draws Interest from Canadian Investors

Two Canadian investment firms, Deloitte Ventures and Inovia, recently invested in Peripheral Labs, a Toronto-based startup developing immersive sports video technology. Peripheral co-founder and CEO Kelvin Cui sees the C$12.1 million deal as a sign that major players view sports tech as a category-defining sector. Jon Wolkin, managing director at Deloitte Ventures, agreed, noting that the firm has seen “growing momentum toward more immersive sports experiences.”

Recent developments in sports tech have benefitted both athletes and fans. Athletes and coaches can now collect biomechanical data in real time with their smartphones and access expert-level coaching at a fraction of the cost. For fans, AI is driving deeper engagement through interactive sports apps that keep viewers immersed beyond the live broadcast. In a recent IBM Sports Intelligence Report, over 68% of Canadian respondents valued AI-powered sports features, and 75% believed AI would improve sports viewing in the coming years.

The Peripheral Labs investment comes amid a broader surge in Canadian tech investment. RBC recently announced the RBCx Growth Fund, which will introduce C$1.4 billion to scale Canadian tech companies. The Canadian government also invested C$1.3 million in startups, directing funds to sport-technology ventures at Toronto Metropolitan University, and Canada’s Investment Summit recently showcased companies in tech. With strong consumer interest, sports tech is well positioned to attract continued investment from Canadian investors.

Author: Amanda French