SpeedLabs Secures $6.5 Million in Seed Funding for Real-Time Sports Market Engine

SpeedLabs has announced the successful completion of a $6.5 million seed funding round, led by Parlay Capital with participation from Bullpen Capital, TA Ventures, and EdgeEquity. According to ChainCatcher, SpeedLabs is developing a market engine focused on real-time sports events. This engine can read live game dynamics and create and price markets instantly based on these dynamics, allowing users to trade on momentum changes during matches. The company believes that this innovative approach to real-time event momentum markets could represent the next growth direction for prediction markets.