Fenwick & West represented ObEN, a developer of artificial intelligence (AI) technology that combines a person's image and voice to create never before possible virtual reality (VR) and augmented reality (AR) experiences, in its $7.7 million Series A round. With just a 2D selfie taken on any smartphone and a brief voice recording, ObEN creates incredibly realistic and personalized 3D virtual selves, making VR and AR technology accessible to everyone. CrestValue Capital led the round with other leading investors, including Cybernaut Westlake Partners and Leaguer Venture Investment Co. Third Wave Digital, Dream Maker Entertainment and Idealab also participated in the round. ObEN is an HTC VIVE X portfolio company, the accelerator program of HTC Corporation.
The company will use the funds to continue product development, expand its team and identify new partnerships. More information about ObEN can be found on the company website.
The Fenwick transaction team was led by corporate lawyers Michael Esquivel, Faisal Rashid and Jeremy Kazzaz; and technology transaction attorney Stefano Quintini.