Omotion Secures Series A Funding for AI K-Virtual Humans
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- 2024-07-19
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- Investment through ‘The Invention Lab’ Deep Tech Venture Investment Fund -
- Aiming to Grow as a Leading AI Tech Company for Korean-Style K-Virtual Humans -
Omotion, a company specializing in ultra-realistic 3D virtual
human R&D and content service technology, co-founded by CEO Moonseok Oh and
CTO Youngho Seo, announced that it had secured a bridge investment for a Series
A funding round at a valuation of 25 billion won from The Invention Lab Deep
Tech Venture Investment Fund managed by accelerator The Invention Lab (CEO
Jin-Young Kim).
Omotion was co-founded in 2021 by Moonseok Oh, a professor at
Kwangwoon University (School of Media and Communication (Media and Information,
Digital Media, Strategic Communication)),
and Youngho Seo, a professor at Kwangwoon University (Department of Electronic Materials Engineering). The company is a tech-driven enterprise that has
undertaken numerous R&D projects with major institutions such as the
Ministry of Culture, Sports and Tourism, the Ministry of SMEs and Startups, the
Ministry of Science and ICT, and the Seoul Metropolitan Government, securing
cumulative government project funding of 4.1 billion won. Omotion has also been
recognized for its AI capabilities, being selected as an AI voucher solution
provider by the Ministry of Science and ICT.
Omotion is growing into a specialized venture company in the 3D
virtual human field, leveraging next-generation advanced technologies including
the 'Omotion GenAI' for creating virtual humans capable of precise Korean
speech as well as English, vision-based motion capture, ultra-realistic 3D
virtual human automatic generation, generative AI-based rigging and animating,
4D volumetric model synthesis, compression/streaming, and XR spatial
computing-based content services. This recent investment follows a 4 billion
won initial investment from Korea University Technology Holdings in February of
last year, acknowledging the potential of Omotion as a promising ‘K-Virtual
Human’ company.
The Invention Lab, which has been focusing on investments in
deep tech startups, formed the ‘Kwangwoon University The Invention Lab Deep
Tech Venture Investment Fund’ with Kwangwoon University Technology Holdings in
June of last year, with this investment being the fund’s first result. The
Invention Lab aims to discover promising startups with core competitiveness in
AI, robotics, and system semiconductors, emphasizing Omotion’s foundational
technology in the virtual human field and its potential for domestic and
international market expansion. Companies that receive this investment also
gain eligibility for additional support funds through the Ministry of SMEs and
Startups' TIPS program or Seoul-type TIPS commercialization funds.
Omotion's global expansion based on its proprietary technology
is also active. Last August, they established a Japanese subsidiary (CEO
Moonseok Oh) in Tokyo, followed by a US subsidiary (CEO Youngho Seo) in Silicon
Valley in January of this year, and are preparing to establish a Chinese
subsidiary in Guangzhou in the latter half of this year.
Omotion is also collaborating with major domestic media and
entertainment companies. They are launching media products linked to popular
broadcast content in partnership with MBC headquarters and are preparing to
introduce Korea’s first virtual human sports caster in collaboration with MBC
Plus early next year. They are planning media products for SBS M&C and
HYBE’s hip-hop idol competition program and are developing XR spatial computing
content services for the virtual idol ‘Subi’ in collaboration with Studio Meta
K, which debuted this July. Additionally, they are working on a 3D virtual
human and content production project utilizing IP from the popular webtoon
‘This Marriage Is Bound to Fail’ in partnership with webtoon studio DCC ENT,
which gained attention for its pop-up store at The Hyundai Seoul. Omotion
recently announced the development of the ‘Immersive AI Studio’ solution for
next-generation movie and broadcast production in partnership with their
collaborator M&N&H and is scheduled to hold a briefing session with the
Saudi Sovereign Wealth Fund for solution export in August.
(From left) Kwangwoon University Professors Moonseok Oh (School of Media and Communication (Media and Information, Digital Media, Strategic Communication)) and Youngho Seo (Department of Electronic Materials Engineering).
Omotion's global network of K-culture media products and services is based on 3D virtual humans.