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China Digest: Biozon, Morewis and Surreal raise fresh capital to expand operations Photo by Henk Vrieselaar on Unsplash March 3, 2021 Clinical mass spectrometry specialist Biozon, industrial software developer Morewis, and synthetic media startup Surreal have secured new financing to expand operations. Biozon nets $46m Series C Clinical mass spectrometry specialist Biozon has raked in 300 million yuan ($46 million) in its Series C round of financing led by CITIC Private Equity Funds Management (CPE), a leading alternative asset manager co-launched in 2008 by state-backed CITIC Group. The latest round also saw participation from healthcare investment firm Sherpa Healthcare Partners and Huagai Capital, an over 15 billion yuan ($2.3 billion) fund that focuses on healthcare, TMT, and culture, per a company statement on Wednesday. ....
How China’s synthetic media startup Surreal nabs funding in 3 months What if we no longer needed cameras to make videos and can instead generate them through a few lines of coding? Advances in machine learning are turning the idea into a reality. We’ve seen how deepfakes swap faces in family photos and turn one’s selfies into famous video clips. Now entrepreneurs with AI research background are devising tools to let people generate highly realistic photos, voices and videos using algorithms. One of the startups building this technology is China-based Surreal. The company is merely three months old but has already secured a seed round of $2-3 million from two prominent investors, Sequoia China and ZhenFund. Surreal received nearly 10 investment offers in this round, founder and CEO Xu Zhuo told TechCrunch, as investors jostled to bet on a future shaped by AI-generated content. ....
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