Daimler Financial Services has committed $7m to a series B round for intelligent avatar technology developer Soul Machines that has a $20m target.
Soul Machines, a New Zealand-based artificial intelligence technology spinout of University of Auckland, is raising $20m in a series B round that already includes automotive manufacturer Daimler.
Daimler participated through financial and mobility services subsidiary Daimler Financial Services and has invested $7m according to New Zealand’s National Business Review.
Inventors Fund, a $20m university venture fund managed by University of Auckland’s tech transfer office UniServices, supplied $2m while venture capital firm Horizons Ventures also invested. The round is not expected to close until 2019 and could exceed the $20m target.
Founded in 2016, Soul Machines is developing lifelike, emotionally responsive digital avatars that rely on artificial intelligence to interact with humans face-to-face. Its avatars include Will, who educates school children about sustainable energy, and customer service program Sarah.
Soul Machines received $7.5m in a series A round led by Horizons Ventures and backed by Iconiq Capital when it launched in 2016. It referred to Mercedes-Benz, a subsidiary of Daimler, as an existing backer this week.
The original version of this article appeared on our sister site, Global University Venturing.
