Vividthree makes investment in OTT streaming platform XMI Group
SINGAPORE (June 25): Vividthree Holdings, the visual effects and CGI production studio, has made an investment in content streaming company XMI Group.
XMI creates an Over The Top (OTT) streaming platform for alternative content and music with gamified elements to provide an immersive experience for its users.
It does this by incorporating an online platform, Artificial Intelligence (AI) capabilities as well as voice and facial recognition and holographic technology.
Vividthree has subscribed up to $1.5 million convertible notes in XMI, which can be converted into shares in the capital of XMI.
XMI will use the investment funds for working capital and day-to-day operations.
Vividthree says the investment will prepare the group for the arrival of 5G network which together with XMI’s OTT platform will allow VR (virtual reality) content and entertainment to be streamed into homes.
Steve Kek, director of XMI, says, “We look forward to working with Vividthree closely. We provide them the technical support through our proprietary software – OTT Streaming platform to deliver their VR content to a wider pool of consumers regionally. With our combined expertise and network, we believe this platform will be the next breakthrough with VR elements as we aim to bring immersive experience to users all around the world.”
Shares in Vividthree last traded at 16 cents.
