South Korean virtual human and conversational AI startup DeepBrain AI has closed a $44 million Series B funding round led by Korean Development Bank. Deepbrain’s synthetic video and voice creations are used by enterprise clients for customer service, education, and media, with the new capital pointed towards expanding into new markets.
DeepBrain reproduces human faces and voices in digital replicas that are capable of speaking and moving like their human counterpart. Using enough visual and audio data, the company’s platform can create a virtual mimic speaking and performing to whatever script they are given or connected to an AI.
The startup provides chatbots, virtual agents, and other variations on the topic of synthetic voices and conversational AI, however the virtual human avatars are the centrepiece of its work. Their clients include Metro News and LG HelloVision.
DeepBrain’s latest projects include virtual bankers to steer customers to the right human employee and AI tutors that can educate students while simulating a human teacher. DeepBrain is now valued at $180 million post-funding and about five years after the startup’s founding. The company reported $2.5 million in revenue last year and is expecting to double the amount in 2021.
DeepBrain CEO Eric Jiang said in a statement: “We’re excited to have the support of these leading investors who understand the opportunity we have to enhance the customer experience and lead the growing contactless industry brought on by the pandemic.”
“This new investment is validation of our technology, strong business opportunity, and customer traction in key customer service-driven industries.”
