Kakao-backed firm secures $2m for AI-enabled avatar conferencing

GoodGang Labs CEO and co-founder Doo-kyung Ahn / Photo credit: GoodGang Labs

In the age of hybrid working, video conferencing has become the norm. However, research from Microsoft showed that only around 30% of users turn their cameras on during meetings – making communication more one-dimensional.

To solve this problem, former Facebook executive Doo-kyung Ahn and serial entrepreneur Jae-cheol Kim founded GoodGang Labs. The metaverse startup has raised new capital from investors like Kakao, Naver, and Line.

Funding details

• Funding amount: US$2,000,000
• Other investors: Kakao, Naver Z (Zepeto), Line Next, Planetarium (Nine Corporation), Kimgisa Lab (김기사랩)
• Stage: Early stage

One of GoodGang Labs’ products is a 3D avatar communication platform called Kiki Town, which is said to accurately convey facial expressions through AI tech. The company is looking to launch a beta version of the platform by the end of the month.

Ahn tells Tech in Asia that the fresh funds will be used to further develop Kiki Town and refine its avatar expression tech.

The South Korea-based startup also offers a Web3 version of the platform, called GangHouse, which allows users to embody their NFT avatars through a digital wallet integration. GoodGang Labs also created its Marionette API for developers to animate their avatars.

Additionally, the firm also released 3,333 pub culture-inspired BeerGang NFTs, which were sold out. GoodGang Labs is already generating revenue from its products and expects to surpass the breakeven point by the end of the year, Ahn says.

See also: Web3 tech still valuable, says Insignia Ventures

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