Israeli Start-Up Replay Technologies Raises $9 Million in Equity Capital From Guggenheim Partners
Israeli start-up company Replay Technologies announced today it has obtained a new investment of US$9 million dollars, in new equity capital, from the prestigious US private wealth management company Guggenheim Partners.
This is Guggenheim Partners’ first investment in an Israeli company, and is Replay Technologies second round of venture financing.
Replay Technologies has developed the latest in three dimensional video play back capability for major sporting events, massively upgrading the level of sophistication of how you can display and interpret instant replays; for fans and potentially for referees and linesmen as well.
The company, which is based in Tel Aviv, was only started in 2011, and was co-founded by CEO Oren Yogev, CTO Matteo Shapira and COO Aviv Shapira.
Replay Technologies calls it freeDimension, or “freeD”, which is kind of catchy, and the company has some impressive clients already on its roster. The recent NBA All Star weekend deployed 22 Replay Technologies cameras around the arena for its revolutionary video play back.
The technology achieves something replay has never done before, making three-dimensional pixel recreation of live events, just as they do really at Pixar from a story board. Putting it simply, freeD video can re-create nearly any viewing angle imaginable of a continuous series of recorded moments, and show angles, that would otherwise need hundreds of conventional two-dimensional cameras, all by using three-dimensional pixels.
While it takes roughly two weeks to first install and set up a freeD system, once it is there it can form a permanent installation. The trick is to render all the imagery fast enough to provide a satisfying experience for viewers and that is rapidly evolving – not yet quite real time but much closer than before.
Replay Technologies was also deployed for the gymnastics events in London for the 2012 Olympic Games and the New York Yankees are also on board today.
The company currently employs 20 people in its R&D centre in Tel Aviv and in the United States. Just two weeks ago Replay Technologies was included by Fast Company magazine on their list of the world’s ten most innovative companies in sports.
In 2013 the company was even nominated for an Emmy in the category of sports broadcasting technologies. Soon, too, the World Tennis Association will be deploying the technology at Grand Slams and ATP events, beginning in March with the ATP 1000 tournament in California.