According to 36 Kr‘s Monday report, Studio 51, an intelligent technology company jointly driven by AI, game engine, and visual effect technology, received almost 100 million yuan ($15 million) in a financing round that was led by Xiaomi.
Xiaomi was followed by 37 Interactive Entertainment and its existing shareholder Shanghai Trust Bridge Partners Management Co., Ltd.. This round of funding will be mainly used for investment in product R&D and to strengthen business development.
Studio 51 is positioned as a global video technology engine company. After three years of research and development, the company has successfully built NEURO, a video commercial SAAS platform. This platform is able to create a virtual advertising space from video content while utilizing automatic real-time rendering and the accurate implementation of video advertisements. The platform can also deliver original videos with embedded advertisements by virtue of artificial intelligence, visual effects engines and other technologies.
At present, the company has reached agreements with Youku, Thunder Stone, Baidu Video, Fun TV, Renren Video and HanjuTV.Net to become their exclusive platform for the advertising service. It has also established partnerships with the likes of iQiyi, Tencent Video and others.
Jiang Wen, managing director of the Strategic Investment Department of Xiaomi, said, “Video technology has been a longterm focus area for our company’s strategic investment. Studio 51 has industry-leading advancing technology and an innovative business model in the field of intelligent video advertising.”
A representative of 37 Interactive Entertainment said, “The NEURO delivery engine initiated by Studio 51 will greatly increase the advertising efficiency of the video platform. Based on the current global video trends, this type of advertising is expected to give birth to a traffic delivery platform with tens of billions of yuan in revenue. We’d like to see better synergy between Studio 51’s delivery engine business and the ecological chain of 31 Interactive’s investment in the future!”