Virtual Production Specialist DGene Raises $20M In Series A Funding Round Led By Alibaba
Summary
EXCLUSIVE: DGene, an emerging content creation company involved in virtual production and immersive entertainment, has raised a $20 million Series A funding round led by Alibaba. The Chinese tech giant had also invested in the company in a prior phase before the Series A. DGene, which was founded in Shanghai, has staffed up in the U.S. and ramped up Hollywood activity of late, including opening a volumetric capture stage in Baton Rouge, LA. The 900-square-foot facility uses artificial intelligence to create holograms of humans and objects for use in AR, VR, holographic displays, mixed-reality glasses and framed video. The influx of capital will fund studio operations as well as DGene’s suite of restoration tools that the company says can help revive film libraries in a cost-effective manner. “We like to define our AI technology as ‘assisted’ intelligence because it builds upon and enhances creations that only humans can make, saving time and money while delivering a level of quality unmatched by other tools,” said Helena Packer, SVP and GM of DGene U.S. “Whether you’re restoring a film to stream in high definition or replicating an entire city to build upon in the metaverse, collaborating with DGene opens a world of possibilities.” DGene last month announced a teaming with producer Jeff Apple, using the company’s technology to revive real-life characters from the past in an episodic series called Secret Agent.