Qatar SportsTech (QST), a leading startup accelerator founded by Qatar Development Bank (QDB), announced earlier that its alumni from the 2nd Cohort, Sponix Tech, headquartered in Qatar, has received an investment boost from the UK-based Aser Ventures, the co-owner of Leeds United Football Club.
Aser Ventures has acquired a strategic stake in the sportstech startup which will help bolster Sponix’s growth and innovative technologies. In addition to capital investment, Aser will leverage its global network, which includes prominent names such as award-winning sports media platform, Eleven, and iconic English football club, Leeds United, to create new opportunities for Sponix and provide the company with strategic guidance and support.
Aser Ventures’ investment in Sponix is a great accomplishment for the Qatari sportstech ecosystem, which is nurtured by QST’s unwavering support for the sector. The renowned award-winning SportsTech accelerator has been providing hands-on logistical assistance, training and funding for local and global startups in line with Qatar’s objectives to promote entrepreneurship and shore up the development of startups and SMEs. Through its strategically designed incubator and accelerator programs, QST has invested nearly USD $10Mn across 40 startups coming from 17 countries since 2019 till date. QST strives to bring these fledgling companies the knowledge and tools they require to forge out a space in a competitive business market.
Sponix Tech has grown as part of the QST acceleration program to achieve remarkable momentum as they succeeded in becoming the official technology provider for UEFA. The startup develops pioneering software that drives fan engagement and monetization opportunities for sports rights owners, broadcasters, and brands.
Ibrahim Abdulaziz Al Mannai, Executive Director of Advisory at Qatar Development Bank, commented on the partnership saying: “We are pleased to see our alumni grow and achieve such a milestone with major international players in the entrepreneurship ecosystem. QDB established QST as a specialized incubator and accelerator for the sports sector to support the country’s aspirations for becoming a sports hub in the region. After years of incessant work, we are proud to see the fruit of all that effort. I would like to congratulate Sponix for this amazing achievement and I wish them all the success in their partnership with Aser Ventures.”
Mohammad Ali Abbaspour, CEO and Founder of Sponix Tech added: “With their impeccable track record and their stellar reputation, we are thrilled about our partnership with Aser Ventures. We have been on a long journey, but the support we have received from QST along the way and now from Aser Ventures is propelling us forward and will enable us to shake the sports sector with innovative tech. We are looking forward to working with the Aser team and I would like to thank them as well as QST for their belief and unfaltering support.”
Welcoming Sponix to the group, Andrea Radrizzani, Founder and Chairman of Aser Ventures said: “Our company is always scanning the global market for innovative companies that have a solid team, vision, and motivation. Mr. Mohammad and his team have excellently demonstrated their capability to innovate ideas that can be leveraged across our sports network. We are excited to welcome Sponix Tech to our family and to help them grow and reach new heights.”
Established in 2020 by Mohammed Ali Abbaspour, Sponix is a technology company, and their products range from SPOV Immersive Replay, SPBOARD Virtual Advertisement, and SPANO Panorama Cam. Their most renowned SPOV Immersive Replay technology allows fans to view the best match action through the eyes of the players on the pitch. Broadcasters can utilize this first-person angle for instant match replays and on social media to boost fan engagement and unlock new brand partnership revenue streams.
The startup also offers solutions to enable broadcasters to tailor in-stadia advertising perimeter boards directly from their live matchday feed.
