- Qatar-based sports technology company Sponex Tech has received little-known investment funding from Acer Ventures, the co-owner of Leeds United Football Club..
- Founded in 2020 by Muhammad Ali Abbaspour, Sponex Tech is a technology company that provides solutions and services that help leagues, clubs, broadcasters and advertisers grow viewership and improve fan experience..
- The new investment will help strengthen SponexTech’s growth and technology, as well as capital investment, and Acer Ventures will benefit from its global network.
The Qatar Sports Technology Incubator and Accelerator, the region’s first accelerator for start-ups in the sports sector and the center for innovative companies in the field of sports technology, established by Qatar Development Bank, announced that Sponex Tech, one of the graduates of the incubator, based in Qatar, received investment funding from Acer. Ventures is a UK-based co-owner of Leeds United Football Club.
Acer Ventures has acquired a strategic stake in the sports technology startup, which will contribute to its growth and innovative technologies. In addition to the financial investment, Acer will leverage its global network, which includes names such as the award-winning Eleven sports platform and the popular English football club Leeds United, to create new business opportunities for Spunix and to benefit from strategic mentoring and support..
Acer Ventures’ investment in Sponex is a landmark achievement for the sports technology sector in Qatar, which is continuously sponsored by the Qatar Sports Technology Incubator and Accelerator and small and medium enterprises. Qatar Sports Technology Incubator and Accelerator has invested nearly $10 million in 40 startups so far from 2019, and through incubator and accelerator programs, the incubator aims to provide these startups with the knowledge and tools they need to set foot in the competitive job market ..
Sponex Tech was started as part of the Qatar Sports Technology Accelerator Program and has evolved to make significant strides in the sector and has already succeeded in becoming the official technology supplier for the UEFA Champions League. The startup also develops groundbreaking software that enhances the fan experience and drives monetization opportunities for broadcasters, sports rights holders and brands..
Commenting on the partnership, Ibrahim Abdulaziz Al-Mannai, Executive Director of Advisory Services at Qatar Development Bank, said: “We are pleased to see the success of our graduates, and their performance with global leaders in the entrepreneurship sector. QDB has the Qatar Sports Technology Incubator and Accelerator as a specialized entity.To support and accelerate the growth of the sports sector, and to contribute to the achievement of the country’s goals of becoming a leading sports hub in the region.And now, after years of continuous work, we are proud to see the fruits of all this effort, and I would like to congratulate Sponex on its amazing achievement and wish them every success in their partnership with Acer Ventures“.
While Mr. Mohamed Ali Abbaspour, CEO and founder of Sponex Tech, said: “We are pleased to partner with Acer Ventures with their proven track record and excellent reputation. Thanks to the support we received from Qatar Sports Technology Incubator and Accelerator, and now Acer Ventures, we are moving forward on this long journey, enabling us to provide the sports sector with innovative technology.Finally, I would like to thank both Qatar Sports Technology Incubator and Accelerator and Acer Ventures for their faith in us and their continued support.“.
Welcoming Spunix to the group, Andrea Radrizzani, founder and chairman of Acer Ventures, said: “Our company is always looking for innovative companies in global markets, with a strong team, vision and motivation. Mr. Mohamed and his team has proven their ability. to come up with ideas that can be applied. Including across our sports network, we welcome Sponex Tech to our family, and look forward to helping them grow and reach new heights.“.
Founded in 2020 by Muhammad Ali Abbaspour, Sponix is a sports technology company that includes many technologies such as immersive replay technology, virtual advertising and Spano Panorama Cam. Spoonix’s immersive replay technology enables fans to watch match action through a “player view” service, and broadcasters can take advantage of this in real-time match replays, and on social media to enhance the fan experience to improve. The startup also offers solutions to enable broadcasters to design in-stadium billboards in real-time from a live match-day broadcast.