Bengaluru: ObEN an Artificial Intelligence product company announces its $7.7 Million Series A funding from Chinese Investors. CrestValue Capital an investment arm of the DynAn Group led the funding round, with contributions from other investors including Cybernaut Westlake Partners, Dream Maker Entertainment, E3 Capital Partners, Gordon Cheng, Idealab, NewDo Venture, Shenzhen Leaguer Venture Capital and Third Wave Digital. This round of funding will benefit ObEN for hiring more world-class scientists and continue rapid product development.
Founded in 2014 by Nikhil Jain and Adam Zheng, ObEN is part of HTC VIVE X, and is located in Pasadena, California at leading technology incubator Idealab. ObEN develops Artificial Intelligence technology, creating never experienced before virtual reality (VR) and augmented reality (AR) by combing human’s 2D image and voice together. The company has generated photo-real 3D avatar by translating individual’s character, personality and individuality. Using just a smartphone, a user can create a 3D virtual self and transport themselves into VR and AR environments, where they can join and participate in activities, including adventure travel, musical concerts and classrooms in space. ObEN is set to launch its virtual self product by Q1 of 2017.
“ObEN is fundamentally changing VR from what has traditionally been a simple, game-like experience by offering completely new interactions for those who want to travel to other worlds,” says Ming Fang, MD, CrestValue Capital. “ObEN’s personalization of music and entertainment experiences in VR and AR is especially exciting and we’re pleased to participate in the company’s growth,” he adds.
Nikhil Jain, Co-Founder & CEO, ObEN, says, “ObEN is at the forefront of innovation that is poised to move VR beyond its preliminary stage and we’re tremendously excited to have validation from visionary investors who understand and value the uniqueness of our technology and approach. In the same way a dream feels real because you are actually in it, VR needs to go beyond pure simulation and become a platform where users can interact and have shared and shareable experiences with their social circle. With ObEN’s personalized, easy-to create avatars, we’re shifting the entire experience from an individual one to a social one and we make it accessible to everyone”.