In the quest to track a spectrum of unspoken mental and emotional states, Looxid Labs is transforming the face of neuro-analytics. The groundbreaking emotion AI solution has just raised $4 million in Series A funding. Their compelling and leading-edge technology can take in data from a user’s emotional and physiological state in VR, AR, and MR.
Series A Funding Leaders
The Series A funding was led by Hastings Asset Management, Daesung Private Equity, Sejong Venture Partners, and Samsung Venture Investment. The financial backing will go toward the launch of Looxid Lab’s emotion AI and analytics. It will also gather more AI specialists for research and development.
Mr. Seung Taek Oh, the CEO of Hastings Asset Management, led the series A round. “The emotion AI of Looxid Labs has already been recognized as the best technology in the world through various business partnerships and awards.”
The neuro-analytics lab was a participant at TechCrunch Disrupt SF 2017 and won the CES 2018 Best of Innovation Award in the AR and VR category for their LooxidVR system.
The CEO of Hastings Asset Management went on to say, “Now it is a solution that works on HMD (Head Mounted Display) such as VR and MR, but it is expected to be more scalable in various platforms in the future. We’re expecting the high growth potential of Looxid Labs,” he added.
The funding will go towards “biometric information-based marketing and mental care solutions using emotion AI”. It is also helping the South Korean business enter the US and global marketplace through strategic partnerships, sales, and competition.
Looxid All-in-One Eye and Brain Wave Tracking
The Looxid Labs emotion AI and analytics system use a VR headset that tracks eye movement and pupil changes. Most interesting, it reads brainwaves through EEG sensors that rest at the forehead. LooxidVR mobile headset tracks a user’s real emotional states as they navigate VR, AR, and MR environments and experiences in real time.
Hankook Research, Korea’s leading market and opinion research company, has already begun using it for marketing research with success. Looxid has found use along with a work-related mental care solution that helps employees reduce stress at work.
Mobile VR applications that promote relaxation and teach people helpful life coping skills like getting rid of a fear of heights are on the rise. Companies, researchers, clinicians, and therapists with innovative ideas on how to better help individuals with VR apps will want to consider how Looxid Labs can help gather nuanced emotional data.
Yong Wook Chae, the CEO of Looxid Labs, says, “This investment will accelerate the growth of our team”. It also enables them “to commercialize the technology that we have accumulated so far but also to make it useful in the market for business”.
The company will work with Samsung and HTC, two major tech leaders. LooxidVR also has the business potential for tracking customer emotional responses. For instance, when they look at or use particular products, applications, and games. Developers that use Unity SDK will want to see about creating socially impactful, entertaining, or practical business content.