California-based startup plans to further improve its AI model
LOVO, the California-based artificial intelligence voice & synthetic speech tool developer, announced a $4.5 million pre-Series A round led by South Korean Kakao Entertainment, along with Kakao Investment and LG CNS, an IT solution affiliate of LG Group.
The funds will be used to propel its research and development in artificial intelligence and synthetic speech and grow the team.
LOVO’s co-founder and chief operating officer Tom Lee told TechCrunch:
“We plan on hiring heavily across all functions, from machine learning, artificial intelligence and product development to marketing and business development. The fund will also be allocated to securing resources such as GPUs and CPUs.”
Founded in November 2019, LOVO has 17 people, including both co-founders, chief executive office Charlie Choi and COO Lee.
The company plans to invest in improving LOVO’s AI model, enhance its AI voices and develop a better product that surpasses any that exists in the current market.
“Our goal is to be a global leader in providing AI voices that touches people’s hearts and emotions. We want to democratize limitations of content production. We want to be the platform for all things voice-related,” said Lee.
LOVO allows enterprises and individual content creators to generate voiceover content for use in marketing, e-learning, customer support, movies, games, chatbots and augmented reality (AR) and virtual reality (VR).
“Since our launch a little over a year ago, users have created over 5 million voice content on our platform,” co-founder and CEO Choi said.
LOVO launched its first product LOVO Studio last year which provides an easy-to-use application for individuals and businesses to find the voice they want, produce and publish their voiceover content. Developers can utilise LOVO’s Voiceover API to turn text into speeches in real-time, integrated into their applications. Users also can create their own AI voices by simply reading 15 minutes of script via LOVO’s DIY Voice Cloning service.
The company owns more than 200 voice skins that provide users with voices categorized by language, style and situation suited for their various needs. LOVO’s four core markets are marketing, education, movies and games in entertainment and AR/VR.