Artificial intelligence company UNITH (ASX: UNT) has witnessed a 100% increase in the value of its investment in AudioStack, a testament to its foresight in the realm of generative AI with UNITH’s 9.7% rising to $3.9m, up from $2m in just 8 months.
AudioStack, formerly known as Aflorithmic Labs, recently concluded a significant pre-Series A funding round amounting to £2.5 million (approximately AU$4.1 million), spearheaded by Quadri Ventures. This funding round was executed at a pre-money valuation of US$27 million (approximately AU$41 million), which substantially augmented the post-money valuation of UNITH’s 9.7% stake in AudioStack to $3.9m.
At the core of UNITH’s collaboration with AudioStack lies a shared commitment to pioneering AI-driven audio technology, an integral component of UNITH’s Digital Human platform.
AudioStack stands as the premier end-to-end solution for fully automated, scalable AI audio production globally. Its proprietary technology seamlessly integrates AI-powered media creation tools, encompassing AI script generation, text-to-speech, speech-to-speech, generative music, and dynamic versioning.
What sets AudioStack apart is its ability to expedite the development of complex audio production workflows, surpassing real-time constraints. This transformative capability empowers enterprises to craft high-quality audio content swiftly and efficiently, without sacrificing on fidelity. By harnessing AudioStack, businesses can achieve cost-effective scalability in audio production, catering to diverse linguistic and contextual requirements with ease.
UNITH, as a leading digital human software developer, leverages AudioStack’s cutting-edge technology to forge customisable, interactive avatars. By amalgamating facial movement, deep learning, audio processing, machine learning, and conversational AI, UNITH pioneers the creation of digital humans that can be deployed on business websites to work 24/7 by addressing customer enquiries.
These digital humans serve as immersive, educational, and assistive interfaces, capable of engaging customers in real-time across multiple languages. Most recently, UNITH confirmed that the platform has drawn significant interest from the human resources industry where digital humans are being used to screen candidates in just a fraction of the time it takes a recruiter to perform the same task.
The synergy between UNITH and AudioStack encapsulates a broader industry trend towards leveraging AI-driven solutions for digital transformation. Traditional labour-intensive processes are being supplanted by innovative technologies that offer superior efficiency, scalability, and cost-effectiveness.
UNITH’s Digital Human platform exemplifies this global paradigm shift, offering businesses a compelling alternative to conventional labour-intensive operations.
In today’s dynamic business landscape, where agility and adaptability are paramount, CEO Idan Schmorak outlined to investors on Monday how he expects that businesses will increasingly turn to digital humans as a cornerstone of their digital strategy.
As UNITH continues to ride the wave of exponential growth propelled by its strategic investments and innovative partnerships, the company remains at the vanguard of digital innovation.
For the quarter ended 31 December 2023, UNITH reported $1.4 million revenue.
Mitch Korver is a Business Writer focused on high-growth companies listed on the ASX in the small and medium cap space.
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