Entrepreneurship

Chinese AI livestream startup raises development funds

Read more at asia.nikkei.com

BEIJING — Deep Science, a Chinese startup involved in virtual AI-based livestreaming technology related to real-time animation, has raised several tens of millions of yuan (several millions of dollars) in series A funding.

The round was led by Malaysia’s GSR Ventures, with additional money coming from MyEG Capital and Peakview Capital. Deep Science initially tapped Innoangel Fund in an angel round last year.

Founded in 2016, the Beijing-based company has produced DM Lite and DM Plus for professional-level video producers and DM Easy for livestreaming.

Other products have artificial intelligence-based virtual livestreaming functions and are based on DM Easy and specialize in live e-commerce.

DM Lite delivers the highest performance and requires dedicated software and hardware, with annual usage fees of several thousands of dollars. However, updates are free.

DM Lite is used for movies, animation, virtual reality and augmented reality, games and livestreaming. Current users are mainly people who stream on short video platforms, multichannel networks and universities in China.

DM Easy launched in July 2020 and costs about $500 per year. It incorporates more than 100 virtual livestreaming functions and over 100 special background effects.

Deep Science also produces live e-commerce technology that features AI-based chatbots, which can livestream around the clock.

Japan’s Panasonic has used this to promote plumbing products.

Deep Science founder Cheng Weizhong said that various technologies are needed for the development of real-time animation and virtual livestreaming, and that it is difficult to coordinate them.

This is why Deep Science has developed all the technologies on its own instead of integrating other technologies, Cheng said. As a result, Deep Science has so far acquired 50 patents.

Cheng also said that the use of virtual live e-commerce will increase, given the costs of human livestreaming and that people need breaks.

Deep Science intends to further strengthen its sales strategy and develop characters and backgrounds suitable for each industry.

36Kr, a Chinese tech news portal founded in Beijing in 2010, has more than 150 million readers worldwide. Nikkei announced a partnership with 36Kr on May 22, 2019.

For the Japanese version of this story, click here.

For the Chinese version, click here.

Read more at asia.nikkei.com

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