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- Unith (ASX:UNT) reported a 100 per cent increase to its investment in AudioStack, formerly known as Aflorithmic Labs
- The investment partnership with AudioStack, an AI audio content producer, has risen to $3.9 million, from the $2 million valuation reported as of June 30, 2023
- UNT last traded at 1.5 cents
Unith (ASX:UNT) has revealed a 100 per cent increase in the valuation of its investment in AudioStack, formerly known as Aflorithmic Labs.
The investment partnership with AudioStack, an AI audio content producer, has risen to $3.9 million, from the $2 million valuation reported as of June 30, 2023.
AudioStack has completed a pre-Series A funding round, securing £2.5 million (A$4.1 million), with Quadri Ventures leading the investment.
The funding round was completed at a pre-money valuation of US$27 million (A$41 million) and resulted in an uplifted post-money valuation for Unith’s 9.7 per cent stake in AudioStack.
Unith remains actively engaged in collaboration with AudioStack, serving as AI service provider for the integration of audio technology into the Digital Human platform and its voice library. This aligns with the company’s ongoing efforts outlined in its recently released investor update.
Unith highlighted the soft launch of its platform, enabling the creation of digital humans to support various use cases.
UNT last traded at 1.5 cents.
