Edinburgh-based sports video platform Recast has raised £6 million, increasing the tech start-up’s valuation to more than £20 million.
Investors in the series A financing round included West Indies cricketer Chris Gayle and former Pixar Animation Studios finance chief Simon Bax.
Bax stood down as executive chairman of venerable newspaper publisher Archant last year after its controversial takeover by private equity firm Rcapital Partners.
Recast, which employs 13 full-time staff at its office in the capital and five in London, expects to increase the workforce to 70 as it expands the platform after the successful fundraising.
The company, which launched last year, operates a so-called Over-The-Top (OTT) platform, which means it does not buy sports rights itself, but follows the exchange model of companies such