Peripheral, the AI research lab bringing spatial intelligence to live sports media, today announced $8.7M in new seed funding co-led by Inovia Capital and Deloitte Ventures, with follow-on participation from existing backers Khosla Ventures and Entrepreneurs First, bringing total funding to $12.5M for the Toronto-based startup.

“The demand for immersive, interactive sports experiences is accelerating, and the infrastructure to deliver them at scale doesn’t yet exist. That’s the problem Peripheral is solving. Deloitte Ventures brings deep visibility into where sports media is heading. Inovia brings the experience of building category-defining companies in North America and EU. We’re proud to have both joining Peripheral as partners,” said Kelvin Cui, Co-founder and CEO, Peripheral.

This new capital comes on the heels of Peripheral’s demo for NBA and WNBA officials at 2026 NBA Summer League as part of the NBA Launchpad program, which identifies and tests emerging technologies with the potential to transform the business and experience of professional basketball. During Summer League, several videos showcasing the technology were released on Toronto Raptors social media accounts, and the clips gained millions of views.

“At Deloitte Canada, we see growing momentum toward more immersive sports experiences, and Peripheral is helping advance that shift. Their approach to volumetric capture has the potential to make high-quality immersive content more practical for leagues, broadcasters, and rights holders. We’re proud to support a team focused on expanding what’s possible for the future of sports media,” said Jon Wolkin, Managing Director at Deloitte Ventures.

“Every time you meet Kelvin and Mustafa, you leave thinking about what sports will look like in ten years. They are doing something no one else has cracked: delivering real-time volumetric video and biomechanics from a platform that works at scale,” said Inovia Partner Karamdeep Nijjar. “The interest from the NBA and teams across North America speaks for itself. We are excited by the opportunity ahead.”

Founded in 2024 by Kelvin Cui and Mustafa Khan, Peripheral Labs is the product of years spent building self-driving cars, planes, and race cars, at Huawei, Tesla and the University of Toronto. Using AI-based reconstruction, the company’s technology transforms standard multi-camera feeds into fully navigable, game-like environments, enabling immersive replays, high-fidelity player tracking, and new viewing experiences that meet young fans’ demands for interactive sports content. The company’s neural rendering system cuts install costs by more than 90 percent compared to legacy volumetric capture systems, dramatically reducing camera requirements.

Earlier this year, Peripheral also announced a first-of-its-kind partnership with the Quantum Sports and Learning Association (QSLA), a feeder program into pro leagues, to build North America’s first biomechanics basketball shooting lab.

Peripheral will use the new funding to expand its engineering team and accelerate deployments with sports leagues and stadiums. Peripheral will be debuting its first consumer-facing platform, a browser-based replay system, later this year.

About Peripheral

Founded in 2024 by Kelvin Cui and Mustafa Khan, Peripheral turns live sports broadcasts into interactive 3D experiences. Using AI-based reconstruction, the company’s tech transforms standard multi-camera feeds into fully navigable, game-like environments, enabling immersive replays, high-fidelity player tracking, and new viewing experiences that meet young fans’ needs for unique, interactive sports content. Peripheral is backed by Inovia Capital, Deloitte Ventures, Khosla Ventures, Entrepreneurs First, and others, and is currently being tested by the NBA via its LaunchPad program. For more information, visit www.peripheral.so.

About Inovia Capital

Inovia Capital is a leading multi-stage tech investor, partnering with founders to build impactful and enduring global companies. With three investment strategies—Discovery, Venture, and Growth—the team leverages an operator-led mindset to provide founders with multi-stage support, mentorship, and access to a worldwide network. Inovia manages over US$2.5 billion with operations in Montreal, Toronto, Waterloo, Calgary, the Bay Area, London and Abu Dhabi. For more information, visit www.inovia.vc.

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