Peripheral, a Toronto startup that turns ordinary multi-camera sports broadcasts into navigable 3D scenes, raised $8.7m in new seed funding on 17 August 2026. Inovia Capital and Deloitte Ventures co-led the round.
Khosla Ventures and Entrepreneurs First, both existing backers, followed on. The raise takes Peripheral's total funding to $12.5m, according to the company's announcement and BetaKit.
The company said it will use the money to expand its engineering team and speed up deployments with sports leagues and stadiums. A valuation was not disclosed.
What Peripheral does
Peripheral builds what it calls spatial intelligence technology. Its software uses AI-based reconstruction to convert standard broadcast camera feeds into interactive 3D environments, which can be used for immersive replays, player tracking and new ways of watching a game.
BetaKit described the core as a large reconstruction model that turns 2D camera images into navigable 3D video for live sports and coaching. The company says its neural rendering system cuts installation costs by more than 90% compared with older volumetric capture systems, a claim that comes from Peripheral itself.
The company was founded in 2024 by Kelvin Cui, now chief executive, and Mustafa Khan, chief technology officer. Both are University of Toronto robotics graduates who previously built self-driving race cars, BetaKit reported. It moved from San Francisco to Toronto in 2025.
Traction with leagues
Peripheral showed its technology to NBA and WNBA officials at the 2026 NBA Summer League under the league's NBA Launchpad programme. The Toronto Raptors have posted videos made with the technology, which the company says have drawn millions of views.
In May the company partnered with the Quantum Sports and Learning Association on what it called North America's first biomechanics basketball shooting lab, in Toronto.
A browser-based consumer replay product is planned for later this year. Peripheral has not named paying league customers or disclosed revenue or headcount.
Who invested
Jon Wolkin, a managing director at Deloitte Ventures, said the firm sees growing momentum toward more immersive sports experiences and that Peripheral's approach to volumetric capture could make high-quality immersive content more practical. Karamdeep Nijjar, a partner at Inovia, pointed to the delivery of real-time volumetric video and biomechanics from a platform that works at scale.
Cui said Deloitte Ventures offers deep visibility into where sports media is heading and praised Inovia's record of helping category-defining companies.
Peripheral has not said how many leagues or venues use its technology, and the announcement did not give revenue or headcount figures.
The funding so far
Peripheral's earlier funding was an initial seed round of $3.6m in May 2025, BetaKit reported. The article did not name the lead investor for that round.
The new money brings the total to $12.5m, or C$17.3m. Entrepreneurs First and Khosla Ventures are the existing investors that returned for this round.
Company website: peripheral.so