Synthetic Speech Startup LOVO Attracts $6.5 Million in a Pre-Series A Funding Round
LOVO, a next-gen synthetic speech platform for education, marketing, entertainment and overall audio content production, has recently announced that it has completed a $2 million extension to its pre-Series A round in which it has attracted $6.5 million in total.
According to the press release, the extension has been led by Hashed, a global crypto venture capital firm active in the blockchain gaming and NFT ecosystem. In addition, other participants in the fundraising include PKO Investments, who are bringing on angels like Yat Siu (Founder of Animoca Brands), Patrick Lee (Founder of Rotten Tomatoes), Holly Liu (Founder of Kabam), Kun Gao (Founder of Crunchyroll), Ray Chan (Founder of 9GAG), Matt Finick (Former CFO of ROBLOX & Marvel Studios), Daniel Wu (Actor of Into the Badlands & Tomb Raider), and Goodwater Capital.
The company has reported that it will use the funds to find new ways of bridging its AI voice technology to Web 3.0.
Voiceverse NFTs was launched at the end of January 2022 and sold out just 10 minutes after the public sale started. This clearly shows the importance of LOVO’s synthetic speech tech, which produces all 8,888 unique voices from a seed of 100 real recordings. The seed voices were licensed from LOVO’s partner voice actors, including Jonny Cruz and Charlet Chung, who get a significant royalty on each NFT sale.
One of the applications of voice within the metaverse world is the combination of unique NFTs with existing profile picture NFTs.