Peripheral Secures $8.7 Million to Scale Spatial Intelligence in Sports
AI-generated image · Bay Street Wire
The Toronto-based startup is leveraging robotics-based neural rendering to convert 2D sports footage into navigable 3D video.
As BetaKit reports, Toronto-based AI startup Peripheral Labs has raised $8.7 million USD ($12.1 million CAD) in seed funding to further develop its spatial intelligence technology for the sports market. The round was co-led by Inovia Capital and Deloitte Ventures, with participation from Entrepreneurs First and Khosla Ventures. This latest injection brings the company's total funding to $12.5 million USD, following a $3.6-million USD seed round in May 2025.
Founded in 2024 by CTO Mustafa Khan and CEO Kelvin Cui—both former self-driving racecar builders and University of Toronto robotics graduates—Peripheral utilizes a large reconstruction model (LRM). This technology, rooted in autonomous vehicle perception and robotics, transforms standard 2D camera images into real-time, navigable 3D video for use in coaching and live sports broadcasts.
According to BetaKit, Peripheral recently demonstrated its capabilities to WNBA and NBA officials through the NBA Launchpad program. Additionally, the Toronto Raptors have shared videos featuring the technology on social media, which the startup says have reached millions of views. The company also partnered with the Quantum Sports and Learning Association in May to establish a biomechanics basketball shooting lab in Toronto.
Jon Wolkin, a managing director at Deloitte Ventures, stated that the technology could make immersive sports experiences more practical for broadcasters and leagues. Peripheral plans to use the new capital to grow its engineering team and accelerate deployments in stadiums and leagues. The company also intends to release a browser-based replay system as its first consumer product later this year.