New World invests in AI startup Pantheon Lab to enhance proptech development

New World Development has invested in Hong Kong-based AI startup Pantheon Lab to diversify its proptech development, including utilising the startup's GPT technology in different projects. 

Established in 2019, Pantheon Lab is a local start-up, specialises in creating AI digital humans that can communicate in real time using generative AI technologies, such as hyper-realistic face synthesis, facial expression and gesture automation, as well asvoice synthesis. It raised a seed funding round led by the Alibaba Hong Kong Entrepreneurs Fund in November last year. 

This comes after the startup firm completed latest seed round of funding. Among its investors is Eureka Nova, an open innovation platform under New World Development.This marks the first time Pantheon Lab receives capital injection from a property developer. Pantheon Lab will use the new round of funding, partially from New World, to expand its scale, boost technology research and product development.

In addition, New World and Pantheon Lab have signed a partnership agreement wherein Pantheon Lab will explore and utilise GPT technology to produce AI digital humans for commercial applications, assisting New World in developing PropTech. These applications may vary and will be based on the project nature and business needs of New World Development.

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On the other hand, Pantheon Lab will participate in the GBA Accelerator programme by Eureka Nova. Through the accelerator programme, Pantheon Lab aims to explore other collaboration opportunities across the New World ecosystem and, with the help of Eureka Nova, eyes the enormous GBA market for the expansion of its business footprint.

Ben Wong, general manager of technology & innovation at New World Development, said, “Recently, as the focus pivots to the advancement of AI technology, we are delighted to partner with Pantheon Lab and introduce their market-ready AI digital human technology to the group’s property management and customer services, diversifying the group’s proptech development.”

Ivan Lau, CEO and co-founder of Pantheon Lab, said, “We are grateful for the support New World has given to Pantheon Lab. The team will use the newly raised funds to strengthen its technology research and development, allowing AI digital humans to be better applied to the commercial level and embracing AI for good to make a positive impact on society.”

“More specifically, the team will explore the use of bespoke AI digital humans in various New World projects, with the aims of assisting New World’s PropTech development in different areas, and improving its service quality and efficiency, as well as contributing to sustainable development initiatives,” Lau added.

MARKETING-INTERACTIVE has reached out to New World Group for additional information.

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