The Research Institute of Tsinghua University in supported the virtual reality technology startup's series A round, which also included corporates.
Oben, a US-based developer of artificial intelligence (AI) technology for virtual reality applications, has completed a $7.7m series A round that included Leaguer Venture Investment, the VC vehicle for Research Institute of Tsinghua University.
The round was led by CrestValue Capital, an investment subsidiary of conglomerate Dunan Group, while Dream Maker Entertainment, a subsidiary of entertainment provider SM Entertainment, also took part, as did Cybernaut Westlake Partners, Third Wave Digital, Idealab and angel investor Gordon Cheng.
Founded in 2014, Oben is working on AI technology that builds a personalised 3D virtual avatar for an individual by combining their voice and image. It is a graduate of consumer electronics producer HTC’s Vive X accelerator.
The startup will use the series A proceeds to hire more scientists and will also put money into product development and seeking out new partnerships.
Ming Fang, managing director of CrestValue Capital, said: “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.
“Oben’s personalisation of music and entertainment experiences in VR and AR is especially exciting and we’re pleased to participate in the company’s growth.”
– A version of this article first appeared on our sister site Global Corporate Venturing.
