Romi conversation AI robot, Mixi, Japan (2021). "Romi is a specialized conversation robot that fits snugly in the palm of your hand. Differing from conventional robots equipped with fixed responses, Romi utilizes our cutting-edge proprietary communication AI to keep conversations going, meaning that you can speak to Romi just like a real human. We developed Romi to provide comfort like a pet and understanding like a family member. Possessing a rich range of emotional expression, Romi can share your happiness, sadness, and anger. Romi is sure to brighten your life with over 100 facial expressions and movement patterns and help you bring out the best of every day with over 100 functions such as alarms and reminders." – Providing space and opportunity for communication with Romi, Mixi.
"First, when a person speaks to Romi, Romi converts the voice data into string data via the Google Cloud Speech API. When this string data is sent to the conversation server, the server constructs the answer as text data and returns it to Romi. Finally, Romi uses text-to-speech to convert text into speech and respond to people. Romi uses generative AI in its conversation server to construct answers to people. However, the generative AI model used by Romi is "in a different direction of development'' from models such as GPT-4 … [where] hallucination becomes a major issue. On the other hand, Shinoda's managers tuned Romi based on the idea that even if there were some mistakes, 'as long as it's fun to talk about and the users laugh, that's fine.' This is one of the reasons why we used Stable LM as the base model for our original AI." – an interview with Harumi Shinoda, Vantage Studio Romi Division Development Group Manager, MIXI's conversation robot "Romi" that heals people, AI tuning that emphasizes fun over accuracy.
Unveiling MIXI's $50 Million CVC Fund: Seizing Investment Opportunities in India's Entertainment Sector
In a significant move that marks a turning point for India's startup landscape, Japanese mobile entertainment company MIXI has taken the lead by launching the country's first-ever $50 million Corporate Venture Capital (CVC) fund. This landmark initiative is aimed at providing a boost to early-stage entertainment startups in India and fostering innovation in the communication and entertainment sectors.
The unveiling of this CVC fund is a strategic manoeuvre by MIXI to invest in and collaborate with startups that focus on entertainment and consumer services. As a pioneer in social networks and mobile entertainment apps, the company's primary objective is to nurture the growth of startups through its industry knowledge and assets, thus positively impacting India's burgeoning startup ecosystem.
MIXI's confidence in India's startup ecosystem, particularly in the realm of digital entertainment, is evident. The company envisions itself as a catalyst for the growth of innovative startups in the country, leveraging its expertise to guide them through the challenges and intricacies of the industry. This initiative falls in line with MIXI's commitment to driving innovation in emerging countries, enabling them to harness the potential of digital communication and entertainment.
Tomoharu Urabe, Principal Partner at MIXI Global Investments Inc., succinctly captured the essence of this initiative, stating, "We plan to use 30-50 billion yen on M&A, capital, and business alliances in the three years from FY23 to FY25. We’re focusing investments on overseas markets, including emerging markets, and are aiming to create global businesses and strengthen global synergies."
MIXI's previous investments, amounting to approximately 70 billion yen from FY19 to FY22, underline its dedication to creating new business opportunities and forging connections with its existing ventures. With this fund, the company aims to make inroads into the rapidly growing Indian market while capitalising on its assets and expertise in business-to-consumer (B2C) services within the digital entertainment realm. This synergy, MIXI believes, will help startups in India thrive and create a lasting impact on the entertainment landscape.
The company's strategic approach aligns with the broader global trend of venture capital funds playing a pivotal role in shaping the trajectory of startups. By providing not only capital but also guidance and mentorship, CVC funds like the one introduced by MIXI can significantly accelerate the growth of early-stage companies. This approach becomes even more crucial in emerging markets like India, where innovation and entrepreneurial spirit are on the rise.
Key to MIXI's strategy is its emphasis on investment opportunities in India. The entertainment sector in the country has been experiencing robust growth, driven by the increasing penetration of smartphones and the rapid expansion of digital platforms. This favorable landscape opens doors for startups to carve their niche and capitalise on the evolving consumer preferences in entertainment.
In conclusion, MIXI's introduction of a $50 million CVC fund marks a momentous step towards bolstering India's startup ecosystem. By focusing on the entertainment sector and consumer services, MIXI aims to facilitate growth, innovation, and synergies that resonate with the ever-evolving dynamics of the digital entertainment landscape. This initiative not only reflects MIXI's belief in India's potential but also highlights the transformative power of strategic investments in India in propelling startups towards success. As the Indian startup ecosystem gains momentum, the introduction of such CVC funds underscores the importance of collaboration and support in nurturing the next generation of visionary entrepreneurs