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PR Newswire

PFT unveils Ad Break Automation powered by CLEAR® AI at IBC 2023

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Transforming revenue generation across FAST, AVOD, and Linear TV Platforms

LOS ANGELES, Sept. 14, 2023 /PRNewswire/ — Prime Focus Technologies (PFT), a leading creator of AI technology solutions for the Media and Entertainment (M&E) industry, is proud to announce the launch of Ad Break Automation, powered by CLEAR® AI at IBC 2023. This significant advancement is poised to generate revenue for content on Free Ad-Supported Streaming Television (FAST), Ad-Supported Video on Demand (AVOD), and Linear TV platforms.

The Ad Break Automation feature enables content owners to automatically identify the best spots for ad placement according to the specific policies of FAST and AVOD platforms. It gives keywords within the content between ad markers to facilitate contextual ad placement. Content owners can now avoid the cumbersome manual placement of ads for each platform. Overlay ads, including banners, lower thirds, and L-bands, can be intelligently placed with the content. This creates an additional revenue stream for content owners. The Ad Break Automation user interface lets you set rules for each destination, and you can conveniently review and edit them when necessary.

“With the exponential growth anticipated in FAST revenues—predicted to triple and exceed $18 billion by 2028, as per Digital TV Research—there’s no better time to transform your monetization approach,” said Murali Sridhar, Senior Vice President of Product Management at PFT. “No more cumbersome and counterintuitive spreadsheets for ad break management; bring automation within advertising workflows, deliver contextual advertisements, and supercharge your top line with CLEAR® AI.”

Utilize CLEAR® AI to:

  • Harness the power of multi-modal AI analysis and Machine Wisdom technology to discover scenes, segments, and in-content metadata.
  • Automatically identify the best potential ad break opportunities within your content, eliminating the need for manual intervention.
  • Efficiently manage your content distribution by accessing predefined ad break policies tailored for various FAST/AVOD platforms and automatically exporting ad break markers that align with platform requirements.
  • Empower users to preview the potential breaks, AI-recommended ad overlays, and contextual metadata through an intuitive user interface.

Join us at IBC 2023 for a demo of Ad Break Automation. To arrange a meeting with us, click here. We are at stand Hall 3, C23.

PFT has recently secured its third distinctive non-adjacent US Patent for AI-enabled Scene Detection, with four more AI patents pending grant.

About Prime Focus Technologies

Prime Focus Technologies (PFT) is the creator of CLEAR® and CLEAR® AI. It offers streaming platforms, studios, and broadcasters transformational AI-led technology and media services powered by the cloud that help them lower their Total Cost of Operations (TCOP) by automating their content supply chain. PFT works with major companies like Walt Disney-owned Star TV, Channel 4, ITV, Sinclair Broadcast Group, A&E Networks, Warner Media, PBS, CBS Television Studios, 20th Century Fox Television Studios, Lionsgate, Showtime, HBO, NBCU, TERN International, Disney+ Hotstar, BCCI, Indian Premier League and more.

For more information, visit: www.primefocustechnologies.com.

Press Contact:

T Shobhana
Senior Vice President and Global Head of Marketing
Prime Focus Technologies
Los Angeles, CA
t.shobhana@primefocus.com 

PR Newswire

Cross-border eCommerce Enabler Buyandship Secures Initial US$10M in Series B Funding with Strategic Investment from Cool Japan Fund

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HONG KONG, Sept. 12, 2023 /PRNewswire/ — Buyandship, a leading global cross-border eCommerce platform headquartered in Hong Kong, announced today first closing of its Series B raise with a US$10 million strategic investment led by Cool Japan Fund. The funds will be allocated to automation of operations, research, and development in Artificial Intelligence (AI) and Machine Learning, and market expansion into the Southeast Asia (SEA) regions.

Cool Japan Fund was founded in November 2013 as a public-private fund backed by the Japanese government, with the aim of contributing to the sustainable growth of Japan’s economy through the expansion of overseas demand and supply of attractive products and services unique to Japanese lifestyle and culture. 

Through its strong community, data analytics, and logistics network, Buyandship has been a market leader in cross-border ecommerce, having processed US$383 million in GMV in the last fiscal year. Buyandship has continuously strived to enhance its technological capabilities to drive real value for consumers. Over the past 12 months, it has built an automated shopping assistant, utilizing a Robotic Process Automation (RPA) model to boost its order processing capacity. Going forward, an AI-powered recommendation system will be integrated into the Buyaholic social commerce platform. This system will utilize algorithm to feed user-generated content (UGC) automatically based on behavioral records to enhance user stickiness and engagement.

Sheldon Li, Co-founder and CEO of Buyandship, said, “Buyandship continues to realize its mission of offering consumers a simple and intuitive ecommerce experience, to purchase products globally, at the most competitive pricing. The latest round of investment, alongside funding from the HKSTP Elite Program, will further cement Buyandship’s leadership and competitiveness in space with AI-driven functionality and machine learning in its service offering, deepened community engagement, and enhanced margins from warehouse automation. From a geographical expansion perspective, Buyandship looks forward to widening its coverage within SEA and South Korea, benefiting even more consumers in the region.”

Kenichi Kawasaki, President, CEO and COO of Cool Japan Fund, said, “This investment will encourage overseas consumers to purchase local Japanese e-commerce products that do not support overseas shipping, and will help raise the profile of Japanese products among overseas users, while expanding sales opportunities.”

The global B2C e-commerce market was valued at an estimated $4.92 trillion, representing 19.6% of all commerce being conducted electronically in 2021. By 2025, these numbers are projected to increase to $7.39 trillion and 24.5% respectively. Included within these statistics is the segment of cross-border e-commerce, which is predicted to experience a swift expansion, growing from $780 billion in 2019 to a projected $4.82 trillion in 2026[1].

For corporate image, please visit: https://bns.is/3Upu4V1.

About Buyandship
Established in 2014, Buyandship is committed to empowering consumers to buy any product globally through big data, global pricing comparison, social commerce, and logistics technologies. Buyandship’s core value is “more product, lowest priced and easy.” 

The company has expanded its presence across 11 countries and regions, operating 11 overseas warehouses and 1.72 million registered users, handling over 11 million packages to date. Our vision is to be consumers’ default shopping platform.

For more information, please visit the company website: https://www.buyandship.today/.

PR Newswire

VIRNECT and CelcomDigi sign MoU to develop experiential industrial Metaverse learning and education.

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SEOUL, South Korea, Sept. 11, 2023 /PRNewswire/ — CelcomDigi Berhad (CelcomDigi) and VIRNECT (438700: KOSDAQ), a Korea-based technology company that specializes in the development and commercialization of industrial extended reality (XR) solutions, have sealed a Memorandum of Understanding (MoU) to explore the development of experiential learning and education using metaverse, for multiple Malaysian universities.

[from left] Tim Ha, CEO of VIRNECT, Minister of Communications and Digital of Malaysia, YB Fahmi Fadzil, and Datuk Idham Nawawi, CEO of CelcomDigi, sealed a Memorandum of Understanding (MoU) to explore the development of experiential learning and education using Metaverse, for multiple Malaysian universities.
[from left] Tim Ha, CEO of VIRNECT, Minister of Communications and Digital of Malaysia, YB Fahmi Fadzil, and Datuk Idham Nawawi, CEO of CelcomDigi, sealed a Memorandum of Understanding (MoU) to explore the development of experiential learning and education using Metaverse, for multiple Malaysian universities.

Under the MoU, both organizations will collaborate to co-create industrial virtual learning programs reimagined using metaverse and AI-based solutions. Utilizing the Metaverse platform across various learning segments, students will be trained with an immersive learning and education method that will potentially benefit enterprises such as cybersecurity, healthcare, robotics, and oil and gas engineering.

CelcomDigi, via its Innovation Center, aspires to build the nation’s most inspiring innovation ecosystem by teaming up with VIRNECT and XRA, VIRNECT’s local partner and support team in Malaysia, to deliver strategic initiatives leveraging the capabilities of cutting-edge metaverse and AI-based technology solutions into higher learning institutions in Malaysia.

The collaboration aims to produce industry-ready graduates skilled in metaverse applications, building Malaysia’s digitalized society through cutting-edge solutions and technology. Local graduates will be enabled with the opportunity to harness the capabilities of the metaverse and transform beyond traditional knowledge and learning programs, accelerating the development of Malaysia’s future talents with AI-based digital growth.

The Memorandum of Understanding (MoU) was signed at Westin Chosun Hotel on Sep 8, 2023, by Datuk Idham Nawawi, Chief Executive Officer of CelcomDigi Berhad, and Tim Ha, Chief Executive Officer of VIRNECT. The signing ceremony was witnessed by the Minister of Communications and Digital of Malaysia, YB Fahmi Fadzil.

Commenting on the collaboration, CelcomDigi CEO Datuk Idham Nawawi said, “We are committed to bringing the best innovation that will greatly benefit the development of Malaysian industries by utilizing the real values of 5G technology. We are excited to collaborate with VIRNECT, an leading industrial XR technology expert, for the development and co-creation of experiential learning and education using Metaverse solutions. This strategic collaboration underscores our position of leveraging metaverse, 5G, and AI technology to potentially establish innovative and productive digital solutions for Malaysian enterprises, spurring Malaysia’s digital ecosystem into a new era of digital leadership.”

VIRNECT’s Southeast Asian Distributor, XRA, has been key to localising cutting-edge technology in Malaysia, and within this alliance, the company will continue spreading access to technology. Havene Liew, President of XRA, was “excited to partner with VIRNECT and CelcomDigi to spread XR technology in Malaysia. Through this collaboration, we aim to socialise the power of XR across the nation, enabling them to enhance productivity, efficiency, and innovation.”

Tim Ha, CEO of VIRNECT, celebrated the collaboration: “We are immensely grateful to have partners like CelcomDigi and XRA who share our passion for advancing technology to enhance how organizations work, learn, and communicate,” he expressed. “South Korea’s leading industrial company has leveraged XR technology to enhance data understanding and collaboration. As a global trendsetter, their success sets the stage for similar advancements in Malaysia, promising increased productivity and innovation across industries.”

[From Left] Havene Liew, President of XRA, Tim Ha, Chief Executive Officer of VIRNECT, YB Fahmi Fadzil, Minister of Communications and Digital of Malaysia, Datuk Idham Nawawi, CEO of CelcomDigi, T. Kugan, Chief Innovation Officer of CelcomDigi and Joachim Rajaram, Chief Corporate Affairs Officer of CelcomDigi.
[From Left] Havene Liew, President of XRA, Tim Ha, Chief Executive Officer of VIRNECT, YB Fahmi Fadzil, Minister of Communications and Digital of Malaysia, Datuk Idham Nawawi, CEO of CelcomDigi, T. Kugan, Chief Innovation Officer of CelcomDigi and Joachim Rajaram, Chief Corporate Affairs Officer of CelcomDigi.

PR Newswire

TargetRecruit Unveils Copilot: Revolutionising Artificial Intelligence for the Recruitment Industry

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SYDNEY, Sept. 11, 2023 /PRNewswire/ — TargetRecruit is thrilled to announce Copilot, the first introduction of Generative AI, and an incredible leap forward in establishing the foundation for diverse native AI functionality within the TargetRecruit platform. 

Copilot is a feature that elevates user interaction with GPT-based models through seamless text generation capabilities, based on prompt input and context. Copilot leverages automated prompts to craft comprehensive, tailored job descriptions that perfectly match recruitment needs, save time, and streamline recruiter workflows with just a few clicks. Copilot’s user-friendly configuration empowers customisation, with the initial integration including OpenAI’s ChatGPT. 

Underpinning Copilot is an advanced AI Integration Framework designed to seamlessly integrate with any REST API-based Generative AI API, allowing the flexibility to connect with a wide array of AI models in the future. Enabling plug-and-play capabilities with preferred AI services will pave the way for a series of upcoming AI capabilities that will accelerate sales and recruiting productivity and efficiency. 

Copilot represents a significant milestone in TargetRecruit’s commitment to excellence where the power of Artificial Intelligence is propelling recruitment software into an era of unparalleled efficiency and innovation. As we move forward, we are excited to continue leading the way in recruitment software and artificial intelligence. 

About TargetRecruit

TargetRecruit provides a powerful CRM/ATS, sales, and middle office solution built on Salesforce – the world’s platform.  Headquartered in Houston, with offices in London, Sydney, and Bangalore, TargetRecruit employs over 100 people globally. To learn more, visit https://au.targetrecruit.com/.

Media contact: marketing@targetrecruit.com, +61 (0) 2 8365 3160

PR Newswire

MicroCloud Hologram develops ChatGPT holographic virtual digital human technology

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BEIJING, Sept. 9, 2023 /PRNewswire/ — MicroCloud Hologram Inc. (NASDAQ: HOLO) (“HOLO” or the “Company”), a Hologram Digital Twins Technology provider, today announced the development of a holographic virtual digital human based on ChatGPT (GereratePre-Training) generative pre-training model, adopted in speech processing, through the use of large amounts of training data to simulate human language behavior, and through grammar and semantic analysis, generate human-understandable text. It can provide accurate and appropriate responses based on context and context, and simulate a variety of emotions and tones. In this way, users can feel a more real and natural dialogue experience when interacting with digital virtual people.

Through AI intelligent speech recognition, speech synthesis, natural language understanding and other technologies, HOLO’s Digital Human adopts ChatGPT generative pre-training model, so that virtual digital people can understand and realize human-computer interaction experience with emotion. Through deep learning and training of artificial intelligence, the accuracy of speech recognition and sentiment analysis is constantly improved. The training process of holographic virtual human voice interaction is very complicated and requires a lot of computing resources and data. During training, the model constantly learns various rules and patterns of the language and is able to make semantic understanding based on context. The advantage of ChatGPT is that it can generate very natural and fluent language and is able to understand complex language structures and patterns. It is also capable of generating high-quality text based on a given text, and is capable of simulating human-like conversations and answers, making the voice expression of holographic virtual digital people more natural.

The voice interaction of holographic virtual digital human needs a powerful high-quality knowledge graph library, which needs to be accumulated through a large number of long-term speech training models, which will be an important direction of future research and development. HOLO R&D team has also done a lot of research and development work in this direction, using artificial intelligence data annotation technology, can achieve a large amount of data accumulation.

Holographic virtual digital people are attached to dialogue-based products and carriers, and their future development space is broad. HOLO’s ChatGPt-based holographic virtual digital people can be applied to many fields, such as virtual human content creation, virtual human customer service, games, social networking, education, family care and other fields.

In the field of 2C, it can be applied to games, entertainment and cultural media to create holographic virtual digital human IP matrix, and holographic virtual digital human application scenarios are wide, such as short video, games, network literature and other digital content ecology. At present, holographic virtual digital people have been applied in the live broadcasting industry. With the development of online live broadcasting industry, virtual anchors have become a new popular role with their perfect human design, appearance and voice, which contributes to the development of the holographic virtual digital people industry and is also one of the models for the commercialization of holographic virtual digital people.

The development of virtual digital human industry involves many technical fields, including AI technology, real-time rendering technology, 3D modeling technology and motion capture technology. In addition to constructing a variety of holographic virtual human IP matrix, AI technology, real-time rendering technology, 3D modeling technology and motion capture technology are applied to develop the intelligent and scene-oriented development of holographic virtual human. With the prosperity and development of pan-entertainment ecology, holographic virtual digital characters will appear in more online scenes such as music platforms, games, and live broadcasts.

In the 2B field, holographic virtual digital human customer service and live delivery of goods achieve 24-hour online service. With the progress of technology, the function of holographic virtual digital people is no longer limited to meeting the entertainment needs of the public, and the application of B-side scenarios is also constantly expanding. In the future, virtual digital people will gradually penetrate marketing, government affairs, banking, real estate and other fields, and service-oriented functions will be highlighted to help enterprises achieve cost reduction and efficiency, and the holographic virtual digital people industry will develop in the direction of scale and social services. At present, virtual digital people are still in the primary stage of artificial intelligence. Identity and functional virtual digital people in the virtual customer service, virtual shopping guide, virtual tour guide, virtual anchor, e-commerce live broadcast and other industries slowly began to land, the future application prospects are very broad.

In the future, people may be able to see the figure of holographic virtual digital people in multiple industries, and holographic virtual digital people services can bring people a sense of freshness, and can overcome some space and time factors to achieve multi-scene services.

About MicroCloud Hologram Inc.

MicroCloud Hologram Inc. (NASDAQ:HOLO) engages in the research and development, and application of holographic technology. MicroCloud Hologram provides its holographic technology services to its customers worldwide. MicroCloud Hologram also provides holographic digital twin technology services and has a proprietary holographic digital twin technology resource library. MicroCloud holographic digital twin technology resource library captures shapes and objects in 3D holographic form by utilizing a combination of holographic digital twin software, digital content, spatial data-driven data science, holographic digital cloud algorithm, and holographic 3D capture technology. MicroCloud Hologram technology services include holographic light detection and ranging (LiDAR) solutions based on holographic technology, holographic LiDAR point cloud algorithms architecture design, technical holographic imaging solutions, holographic LiDAR sensor chip design, and holographic vehicle intelligent vision technology to service customers that provide holographic advanced driver assistance systems (ADAS).

Safe Harbor Statements

This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates” and similar statements. Statements that are not historical facts, including statements about the Company’s beliefs and expectations, are forward-looking statements. Among other things, the business outlook and quotations from management in this press release, as well as the Company’s strategic and operational plans, contain forward−looking statements. The Company may also make written or oral forward−looking statements in its periodic reports to the U.S. Securities and Exchange Commission (“SEC”) on Forms 20−F and 6−K, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward−looking statement, including but not limited to the following: the Company’s goals and strategies; the Company’s future business development, financial condition and results of operations; the expected growth of the AR holographic industry; and the Company’s expectations regarding demand for and market acceptance of its products and services. Further information regarding these and other risks is included in the Company’s annual report on Form 20-F and current report on Form 6-K and other documents filed with the SEC. All information provided in this press release is as of the date of this press release, and the Company does not undertake any obligation to update any forward-looking statement, except as required under applicable laws.

Source: MicroCloud Hologram Inc.

PR Newswire

mirrorboard Launches AI Stock Image Global Service, ‘Recipe-p’

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SAN FRANCISCO, Sept. 9, 2023 /PRNewswire/ — mirrorboard corp., an AI startup, announced on the 4th of September that it has successfully launched ‘Recipe-p,’ a stock image service using generative AI technology.


 Recipe-p is a second-generation AI stock image service created to solve the problems of the traditional stock image market, offering a library of over 100,000 AI stock images for free. Furthermore, Recipe-p regularly updates its AI stock images based on user preferences through its in-house developed AI model engine.

 The commercial stock image market is already widely used but poses a significant burden on users due to high costs and license expiration issues. Even with free stock image services, the images are often duplicated and used by millions worldwide, making it challenging to find unique images. Recipe-p has tackled these issues by providing life-like images using generative AI technology. AI stock images generated based on user input are unique, ensuring that users can access distinctive visuals. Currently, Recipe-p offers over 100,000 AI stock images and has gained popularity with over 2,000 sign-ups on its launch day alone.

The service currently focuses on offering portrait photos and plans to expand into various categories such as animals, objects, nature, and landscapes. Additionally, Recipe-p will provide editing features like AI content creation, inpainting, resizing, and upscaling.

Tae-Hyung Yu and Hae-Chan Moon, co-founders of mirrorboard which is a member company of Born2Global Centre, stated, “AI technology is about creating equal opportunities for more people,” and expressed their commitment to enhancing the accessibility and convenience of AI stock image usage through Recipe-p, ultimately transforming the global stock image market.

PR Newswire

Prime Focus Technologies will showcase vendor-agnostic CLEAR® AI Platform for unparalleled speed and flexibility at IBC 2023

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LOS ANGELES, Sept. 8, 2023 /PRNewswire/ — Prime Focus Technologies (PFT) is thrilled to showcase its purpose-built CLEAR® AI Platform for the Media and Entertainment (M&E) industry at IBC 2023. This represents a seismic shift in providing enterprises with a readily deployable, vendor-agnostic AI Platform, complete with AI modules and integrations, to accelerate their enterprise AI strategy with speed and innovation. 

“The goal of the CLEAR® AI Platform is “making AI development accessible to all.” It will empower enterprises with rapid in-house AI development and productization,” stated Murali Sridhar, Senior Vice President and Head of Product Management at Prime Focus Technologies. “Enterprises can achieve a substantial acceleration of at least two years in reaching their AI objectives, from conceptualization to realization.”  

This Platform empowers users with advanced features, an intuitive user interface (UI), pre-configured optimizations, and industry-leading third-party AI integrations. It provides the flexibility for organizations to adopt multi-vendor AI solutions, accelerating their AI journey. A key component is Machine Wisdom, a patented technology that blends AI capabilities from various providers, boosting accuracy and simplifying its integration into specific M&E workflows. It seamlessly incorporates cutting-edge AI models for video, audio, image, text, and Generative AI processing.

Key features & benefits of CLEAR® AI Platform:

Flexibility to innovate with no exclusive dependency on one vendor:
The CLEAR® AI Platform allows enterprises to combine AI from various providers and in-house developed AI engines to solve specific business use cases. This approach fosters independence and will enable businesses to diversify their AI resources, mitigating risks associated with vendor exclusivity. Enterprises also have the option to connect any new third-party engines of their choice and quickly integrate them into the Platform. This enables them to create new visualizations, expose APIs, and accelerate innovation by switching on/off the engines used.

Elegant UI for data visualization and insights:
The CLEAR® AI Platform has an intuitive UI for visualizing data and insights, seamlessly adaptable to M&E workflows. This UI offers meaningful representations of AI-generated data and provides the necessary tools to employ this data in real-world M&E use cases effectively.

Smart optimizations, best for run-time deployments:
The CLEAR® AI Platform comes equipped with smart optimizations that utilize existing data and generate AI data only when necessary. This will deliver maximum cost savings on a run-time basis.   

Cloud-scale Ready:
It leverages highly optimized cloud technologies to create, test, and deploy cost-efficient AI solutions, including just-in-time scaling and minimal overheads. This approach guarantees rapid processing speeds and smooth handling of workload bursts, all while maintaining optimal cost management on the cloud.

Metering and Analytics:
The Platform incorporates detailed metering capabilities per workflow, service, and per-function basis. This empowers users to gain valuable insights into AI-related cost allocations, optimization opportunities, and enhanced control over their AI usage.

Security:
The Platform has enterprise-grade security features tailored for M&E organizations. It includes built-in capabilities for user management, administration, file management, and more right out of the box.

Consulting and Services:
The Platform comes with a choice to use consulting services that allow enterprises to leverage our high-caliber AI team. These experts can collaborate with your in-house teams to foster innovation in AI integrations, create new AI models, oversee Machine Learning operations, design custom user interfaces, integrate Generative AI, and deliver timely engineering support.  

If you are building AI, consider leveraging the CLEAR® AI Platform alongside our team or your own. This robust, finely tuned, and scalable Platform is ready to integrate into your ecosystem seamlessly.   

Join us at IBC 2023 for a demo of the CLEAR® AI Platform. To arrange a meeting with us, click here. We are at stand Hall 3, C23.     

PFT has recently secured its third distinctive non-adjacent US Patent for AI-enabled Scene Detection following rigorous inspections with the US Patent and Trademark Office (US PTO), with four more patents pending grant.

About Prime Focus Technologies

Prime Focus Technologies (PFT) is the creator of CLEAR® and CLEAR® AI. It offers streaming platforms, studios, and broadcasters transformational AI-led technology and media services powered by the cloud that help them lower their Total Cost of Operations (TCOP) by automating their content supply chain. PFT works with major companies like Walt Disney-owned Star TV, Channel 4, ITV, Sinclair Broadcast Group, A&E Networks, Warner Media, PBS, CBS Television Studios, 20th Century Fox Television Studios, Lionsgate, Showtime, HBO, NBCU, TERN International, Disney+ Hotstar, BCCI, Indian Premier League and more.

For more information, visit: www.primefocustechnologies.com.  

Press Contact:
T Shobhana
Senior Vice President and Global Head of Marketing
Prime Focus Technologies
Los Angeles, CA
t.shobhana@primefocus.com

PR Newswire

Dreame Technology Launches Revolutionary Flagship Robotic Vacuum L20 Ultra with Industry First* AI-Driven MopExtend™ Technology at IFA 2023

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SAN FRANCISCO, Sept. 4, 2023 /PRNewswire/ — Dreame Technology, the industry leader in home appliances, is launching its new flagship robotic vacuum L20 Ultra, featuring leap-forward technology, at IFA 2023. Held in Berlin from September 1st to September 5th, the world’s renowned consumer electronics and home appliances show is the perfect setting to showcase the L20 Ultra’s features, including the new breakthrough AI-driven MopExtend™ technology, which provides in-depth edge cleaning. The L20 Ultra also offers several other powerful features that provide a revolutionary cleaning experience for its users.

Dreame Technology Launches Revolutionary Flagship Robotic Vacuum L20 Ultra with Industry First* AI-Driven MopExtend™ Technology at IFA 2023
Dreame Technology Launches Revolutionary Flagship Robotic Vacuum L20 Ultra with Industry First* AI-Driven MopExtend™ Technology at IFA 2023

The L20 Ultra is the latest release in smart home appliances from Dreame Technology, which takes detailed cleaning to a whole new level, a fully automatic robotic vacuum that cleans floors and cleans itself. In addition, L20 Ultra will be the first product with Dreame Technology’s brand new logo, leading the brand new era of Dreame Technology.

Industry First* AI-Driven MopExtend™ Technology

Aiming to tackle the difficulty that edge cleaning always leaves much space , Dreame Technology has developed its own exclusive core technologies, Mop-Extend™ and Duo-Scrub™ mopping system, to provide a better solution to such predicament.

Industry First AI-Driven MopExtend™ Technology
Industry First AI-Driven MopExtend™ Technology

The featured Mop-Extend™ technology incorporates several Position Sensitive Detectors, which are able to automatically and precisely identify corners and edges. When corners and edges are identified, Mop-Extend™ technology will be further activated and extend the mop to the wall edges as closely as possible, for a deeper, closer, and corner-to-corner cleaning experience. Furthermore, the algorithms of Mop-Extend™ technology can help L20 Ultra to excel in terms of edge cleaning in even complex house environments, ensuring that consumers’ edge cleaning needs are addressed more thoroughly and efficiently.

Equipped with two high-speed rotary mops in its Duo-Scrub™ mopping system, L20 Ultra is designed to tackle stubborn stains and worn-in dirt. In addition, the L20 Ultra has built-in dirt detection technology, which uses data garnered from previous cleaning cycles to detect whether the rooms require additional cleaning. For example, the L20 Ultra can respond to seasonal changes and the associated impact, such as pet fur, pollen or additional dirt brought into the home, and uses that information to deliver a level of cleaning synchronized with Dreame Technology’s home appliances.

Automatic All-round Performance

Featuring the newly upgraded automatic base station, L20 Ultra can offer consumers an even more automatic cleaning experience, compared to the previous models. With DualBoost 2.0 technology and a 3.2L dust bag, the automatic base station can store the dust for up to 75 days without users having to manually take out the dust. Other than that, L20 Ultra can also clean and dry the mop by itself. When the mops get dirty, they will be washed within the automatic base station with a 4.5L water tank. After the self-cleaning is finished, the mops will be rapidly dried with hot air, which can last up to 2 hours, to prevent mildew formation and bad odors.

Automatic All-round Performance
Automatic All-round Performance

Automation is also leveled up with auto water refilling and auto cleaning solutions refilling. L20 Ultra will automatically refill the water tank to keep the mop wet, in preparation for efficient cleaning at any time. Nevertheless, the cleaning solutions can also be automatically refilled to save the users from many troubles.

Advanced Cleaning System

L20 ultra is designed to deliver unparalleled performance to its users with its advanced cleaning system and different functions to cope with different house environments.

With Dreame Technology’s advanced Vormax™ Suction System, L20 Ultra optimizes vacuuming efficiency  to pull household debris up from rugs, out of carpets, and off of hard floors. The powerful Vormax™ Suction System packs 7,000Pa of suction power for excellent vacuuming. This power guarantees effective dust removal while achieving a remarkable high pick-up rate. And the liftable rubber brush provides easy hair detangling with mop-removal technology for a powerful cleaning within an adaptable design.

Moreover, L20 Ultra is well equipped with ultrasonic carpet recognition and mop-removal technology combined for enhanced carpet and rug cleaning. When carpets and rugs are recognized, users can decide which option to conduct from three carpet cleaning options: mops removal, mops raising, or carpet avoidance, coping with different kinds of carpets and rugs or avoiding wetting carpets and rugs at all.

Advanced Cleaning System
Advanced Cleaning System

Other intelligent features include Pathfinder™ Smart Navigation, which uses AI learning and 3D structure light technology to scan the room ahead, recognize any obstacles and avoid them, preventing items that may have been left on the floor by mistake from being vacuumed up, which, in turn, prevents interruptions in your planned cleaning process and ensures completion of the task at hand.

Intelligent Environment Sensing
Intelligent Environment Sensing

The flagship L20 Ultra combines upgraded power, AI technology, and years of R&D to deliver a robotic vacuum that will prove to be a revolution in cleaning for its user. The leap-forward introduction of Mop Extend™ Technology delivers superior cleaning, enabling the L20 Ultra to get closer to hard-to-reach edges, as well as clean in between furniture and smaller spaces.

Price And Availability

This compact and efficient L20 Ultra will be available to purchase from September 20th  2023 in United States, via the Dreame’s official stores on Amazon, starting from 1499.99 USD. Pre-Order starts on September 1st , users have the option to purchase a discount code for $19.99 on the official website, which can be used to obtain a $450 discount. Upon its official release on September 20, the price will be reduced to $1049.99 when the code is applied (or $1199.99 without the code).

To witness the next revolution in cleaning first-hand, and see the L20 Ultra in action, visit Dreame at IFA 2023. We are located in Hall: City Cube_A at Stand CCA-209.

About Dreame Technology

Established in 2017, Dreame Technology is an innovative consumer product company that focuses on smart home cleaning appliances with the vision to empower lives through technology. Follow us on Facebook, Instagram, TikTok and Twitter. For more information please visit https://www.dreametech.com/. 

PR Newswire

Midea’s PortaSplit Receives Prestigious Award at IFA, Showcasing Innovation and User-Centric Approach

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BERLIN, Sept. 2, 2023 /PRNewswire/ — Midea, a leading brand in smart home appliances, has once again demonstrated its commitment to innovation and user satisfaction by winning the 2023 Global Product Technical Innovation Award at the renowned IFA event — a prestigious industry exhibition that takes place from 1-5 September 2023 in Berlin, Germany.

Midea’s groundbreaking product, the PortaSplit, won the Room Comfort Technology Innovation Gold Award, solidifying its position as a leader in innovative air-conditioning solutions. This product exemplifies the company’s goal to address user needs through insightful engineering and design.

This accolade, a clear testament to Midea’s dedication to excellence, was presented by IDG, Europe Digital Group and Asia Digital Group, and highlights Midea’s ongoing pursuit of new technologies and improvements in user-centric solutions.

The Global Product Technical Innovation Award is a hallmark in the consumer electronics industry, representing the pinnacle of technical achievement and innovation, celebrating brands that are at the forefront of technical advancements. This annual event serves as a global stage for consumer electronics brands to showcase their breakthroughs.

Award-Winning Smart AC Redefines Cooling Efficiency and Flexibility

The spotlight falls on Midea’s PortaSplit, a smart air conditioner that combines cutting-edge cooling technology with unprecedented flexibility. This innovative home appliance is set to make its market debut in 2024 and Midea is proud to unveil the product at IFA 2023.

Unlike conventional AC units, the Midea PortaSplit seamlessly merges the portability of a portable AC with the superior cooling capacity and efficiency of a split AC. This unique fusion delivers powerful and tranquil cooling comfort, defying the limitations of existing cooling solutions.

Notably, Midea’s PortaSplit is a direct response to the needs of modern consumers. It has been a longstanding challenge in balancing cooling efficiency, energy conservation, flexibility, and ease of installation. “With a permanent split air conditioner, an installer is necessary. However, there are often long waiting times of up to four months due to high demand. If you don’t inquire early enough, you’ll miss out on having it installed for the summer. Cost is another concern, as installation alone can be around 2000 euro not including the price of the air conditioner. The Midea PortaSplit offers a more affordable option,” said Manuel Seethaler, Head of Public Relationship and Strategy at Midea RAC Germany Research Center in Stuttgart.

“Moreover, it is especially convenient for those who aren’t permitted to have a permanent air conditioning system. The best part is that it can be easily installed and removed without the need for drilling or tools. This means that customers can take it with them when they move to another rental,” Manuel added.

The PortaSplit introduces two key innovations. It’s the first plug-and-play split AC without the need for fixed installation. Another remarkable feature of the PortaSplit is its outstanding cooling performance. It is a portable AC that has the same efficiency as a conventional split AC, with a strong cooling capacity of 3.5 kW and a Seasonal Energy Efficiency Rating (SEER) of 6.1, surpassing all other portable ACs in the market.

In fact, the PortaSplit significantly outperforms a conventional portable AC in terms of cooling capacity and energy efficiency. According to StiWa test conditions, the PortaSplit performed four times better in cooling capacity and had three times higher energy efficiency compared to a conventional portable AC. 

Furthermore, the PortaSplit’s heat exchange system enables whole-room cooling without venting air out, maintaining constant air pressure and improving cooling performance. improving cooling performance and maintaining constant air pressure. PortaSplit is able to cool a room down in simply 15 minutes. Based on typical weather patterns in Germany, the estimated running cost is only €26 per month for the complete cooling season.

Energy saving is another crucial aspect of the design of PortaSplit. Midea’s improved AI algorithms provide up to 15% additional energy savings. It ensures a continuous and efficient cooling experience by adjusting performance according to the changing environmental conditions and enhanced predictive models.

Additionally, the PortaSplit includes the Air Magic+ technology, which purifies the air by emitting negative ions and reducing the spread of bacteria and viruses. This added layer of protection underscores Midea’s commitment to user well-being and health.

Lastly, PortaSplit was engineered with advanced soundproofing technology, allowing the air conditioner to operate at a mere 39dB in silent mode. This ensures restful sleep while maintaining optimal comfort.

Midea’s PortaSplit is a game-changer in the world of smart home appliances. Its innovative design, portability, and energy-efficient features, and wining the Global Product Technical Innovation Award, have made it a true testament to Midea’s dedication to innovation and improved user experience.

PR Newswire

Starbox Group Holdings Ltd. Announces First Half of Fiscal Year 2023 Financial Results

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Revenue and Net Profit Increased to $4.0 Million and $1.4 Million Respectively (Basic Earnings of $0.03 Per Share) with Technology-Driven Services Revenue Accounting for Approximately 43.8% of its Revenue

KUALA LUMPUR, Malaysia, Aug. 29, 2023 /PRNewswire/ — Starbox Group Holdings Ltd. (Nasdaq: STBX) (“Starbox” or the “Company”), a service provider of cash rebates, digital advertising, and payment solutions with a goal of becoming a comprehensive AI solutions provider within Southeast Asia, today announced its unaudited financial results for the six months ended March 31, 2023.

Mr. Lee Choon Wooi, Chairman and Chief Executive Officer of Starbox, commented, “We are excited about the results we have accomplished for the first half of fiscal year 2023, where we saw robust growth across almost every key financial metric. Our revenue and net income grew for the first half of fiscal year 2023, demonstrating the fruition of our earlier investments in technology and successful execution of our strategic initiatives, namely new technology-driven services revenue via licensing and/or sale of our technologies. Moving forward, we expect to channel our efforts into continuous technological innovation as we believe technology such as artificial intelligence will be one of our key drivers for revenue growth for the foreseeable future. We plan to keep investing in our artificial intelligence-generated content (AIGC) engine, which we believe will revolutionize how people visualize ideas and provide invaluable tools for businesses across industries. We aim to disrupt the industry with our applications of AI technologies, thereby solidifying our market position, and generating long-term value for our shareholders.”

First Half of Fiscal Year 2023 Financial Highlights

  • Total revenue was $4.0 million for the six months ended March 31, 2023, an increase of 36.1% from $2.9 million for the same period of last year.
  • Income from operations was $2.0 million for the six months ended March 31, 2023, an increase of 3.1% from $1.9 million for the same period of last year.
  • Net income was $1.4 million for the six months ended March 31, 2023, an increase of 8.6% from $1.3 million for the same period of last year.

First Half of Fiscal Year 2023 Operational Highlights

  • Number of advertisers was 22 during the six months ended March 31, 2023, compared to 42 during the six months ended March 31, 2022.
  • Number of members on the GETBATS website and mobile app was 2,518,023 as of March 31, 2023, compared to 2,513,658 as of September 30, 2022.
  • Number of merchants on the GETBATS website and mobile app was 832 as of March 31, 2023, compared to 820 as of September 30, 2022.
  • Number of transactions facilitated through GETBATS website and mobile app was 161,306 during the six months ended March 31, 2023, compared to 188,718 during the six months ended March 31, 2022.

First Half 2023 Financial Results

Revenue

Total revenue was $4.0 million for the six months ended March 31, 2023, an increase of 36.1% from $2.9 million for the same period of last year. The increase in revenue was primarily due to increases in the revenue from our newly established software licensing service segment.

  • Revenue from digital advertising service was $2.2 million for the six months ended March 31, 2023, which decreased by 23.7% from $2.9 million for the same period of last year. The decrease was due to decreases in the number of advertisers for our services in the six months ended March 31, 2023.
  • Revenue from software licensing was $1.7 million for the six months ended March 31, 2023. The Company did not have revenue from software licensing for the same period of last year. On March 24, 2023, the Company’s wholly owned subsidiary, Starbox Technologies Sdn. Bhd., entered into a software licensing agreement with Brandavision Sdn Bhd, a Malaysia company (“Brandavision”). The Company will develop a comprehensive data management system for Brandavision, grant them the access to its vast database, help train the staff of Brandavision with respect to its use and provide continuous technical support.
  • Revenue from cash rebate services was $10,621 for the six months ended March 31, 2023, which increased by 91.3% from $5,552 for the same period of last year. The increase was primarily due to an increase in the average cash rebate commission rate earned by the Company for the six months ended March 31, 2023 as compared to the six months ended March 31, 2022.
  • Revenue from payment solution services was $4,303 for the six months ended March 31, 2023, which decreased by 20.0% from $5,379 for the same period of last year.

Operating Cost

Operating costs were $2.0 million for the six months ended March 31, 2023, which increased by 99.0% from $1.0 million for the same period of last year. The increase was primarily due to the following reasons:

  • Salary and employee benefit expenses were $318,750 for the six months ended March 31, 2023, which increased by $122,846 from $195,904 for the same period of last year, primarily due to an increase in the number of employees from 17 for the six months ended March 31, 2022 to 25 for the six months ended March 31, 2023, in order to handle the increase in business activities associated with the Company’s digital advertising services, cash rebate services, and the newly expanded business in software licensing services.
  • Marketing and promotional expenses were $209,564 for the six months ended March 31, 2023, which increased by $104,756 from $104,808 for the same period of last year, as a result of our increased marketing efforts to develop new merchants and advertisers for our services.
  • License costs were $30,000 for the six months ended March 31, 2023, which increased by $4,941 from $25,059 for the same period of last year.
  • Website and facility maintenance expenses were $147,345 for the six months ended March 31, 2023, which increased by $97,620 from $49,725 for the same period of last year, primarily because the Company incurred more costs to optimize and upgrade its IT system related to rebate calculation and AI calculation engine.
  • Utility and office expenses were $251,563 million for the six months ended March 31, 2023, which increased by $194,784 from $56,779 for the same period of last year, primarily due to increased office insurance expenses and increased office supply expenses resulting from an increased number of staff.
  • Depreciation and amortization expenses were $193,662 for the six months ended March 31, 2023, which increased by $149,515, from $44,147 for the same period of last year, mainly due to increased amortization of intangible assets.
  • Business travel and entertainment expenses were $71,479 for the six months ended March 31, 2023, which increased by $53,957 from $17,522 for the same period of last year, due to the Company’s increased efforts to expand its business operations into local and neighboring countries.
  • Others were $344,633 for the six months ended March 31, 2023, which increased by $304,175 from $40,458 for the same period of last year, primally due to (i) increased trademark expenses by $69,990 and (ii) increased bonus by $176,635.

Provision for Income Taxes

Provision for income taxes was $0.6 million for the six months ended March 31, 2023, which decreased by 5.4% from $0.7 million for the same period of last year.

Net Income

Net income was $1.4 million for the six months ended March 31, 2023, which increased by $0.1 million from $1.3 million for the same period of last year.

Basic Earnings per Share

Basic earnings per share was $0.03 for the six months ended March 31, 2023, compared to basic and diluted earnings per share of $0.03 for the same period of last year.

Balance Sheet

As of March 31, 2023, the Company had cash of $0.9 million, compared to $17.8 million as of September 30, 2022.

Cash Flow

Net cash used in operating activities was $12.1 million for the six months ended March 31, 2023, compared to net cash provided by operating activities of $1.5 million for the same period of last year.

Net cash used in investing activities was $17.9 million for the six months ended March 31, 2023, compared to $0.6 million for the same period of last year.

Net cash provided by financing activities was $11.8 million for the six months ended March 31, 2023, compared to net cash used in financing activities of $0.8 million for the same period of last year.

About Starbox Group Holdings Ltd.

Headquartered in Malaysia, Starbox Group Holdings Ltd. is a technology-driven, rapidly growing company with innovation as its focus. Starbox is aiming to be a comprehensive AI solutions provider within Southeast Asia and also engages in building a cash rebate, digital advertising, and payment solution business ecosystem targeting micro, small, and medium enterprises that lack the bandwidth to develop an in-house data management system for effective marketing. The Company connects retail merchants with retail shoppers to facilitate transactions through cash rebates offered by retail merchants on its GETBATS website and mobile app. The Company provides digital advertising services to advertisers through its SEEBATS website and mobile app, GETBATS website and mobile app and social media. The Company also provides payment solution services to merchants. For more information, please visit the Company’s website: https://ir.starboxholdings.com.

Forward-Looking Statements

Certain statements in this announcement are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company’s current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy and financial needs. Investors can identify these forward-looking statements by words or phrases such as “approximates,” “assesses,” “believes,” “hopes,” “expects,” “anticipates,” “estimates,” “projects,” “intends,” “plans,” “will,” “would,” “should,” “could,” “may” or similar expressions. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company’s registration statement and other filings with the U.S. Securities and Exchange Commission.

For more information, please contact:

Starbox Group Holdings Ltd.

Investor Relations
Department Email:
ir@starboxholdings.com

Ascent Investors Relations LLC

Tina Xiao
Phone: +1 917-609-0333
Email: tina.xiao@ascent-ir.com

STARBOX GROUP HOLDINGS LTD AND SUBSIDIARIES

CONDENSED CONSOLIDATED BALANCE SHEETS

As of

March 31, 2023

As of

September 30,
2022

(Unaudited)

ASSETS

CURRENT ASSETS

Cash and equivalents

$

864,392

$

17,778,895

Accounts receivable, net

4,986,688

2,032,717

Prepaid income tax

552,094

–

Prepayments

14,448,012

4,269,611

Due from related parties

1,682

1,473

Total current assets

20,852,868

24,082,696

NON-CURRENT ASSETS

Property and equipment, net

21,941

13,380

Intangible assets, net

18,824,416

903,768

Right-of-use assets, net

36,511

42,574

Total non-current assets

18,882,868

959,722

TOTAL ASSETS

$

39,735,736

$

25,042,418

LIABILITIES AND SHAREHOLDERS’ EQUITY

CURRENT LIABILITIES

Taxes payable

$

395,772

$

1,404,128

Deferred revenue

368,066

–

Accrued liabilities and other current liabilities

348,627

541,050

Operating lease liabilities, current

17,052

15,833

Due to related parties

1,409

7,361

Total current liabilities

1,130,926

1,968,372

NON-CURRENT LIABILITIES

Deferred tax liabilities, net

318,603

–

Operating lease liabilities, non-current

19,459

26,741

Total non-current liabilities

338,062

26,741

TOTAL LIABILITIES

1,468,988

1,995,113

COMMITMENT AND CONTINGENCY

SHAREHOLDERS’ EQUITY

Preferred shares, par value $0.001125, 5,000,000 shares
authorized, no shares issued and outstanding

–

–

Ordinary shares, par value $0.001125, 883,000,000 shares
authorized, 54,375,000 shares and 45,375,000 shares issued and
outstanding as of March 31, 2023 and September 30, 2022,
respectively

61,172

51,047

Additional paid in capital

30,674,988

18,918,303

Accumulated other comprehensive income (loss)

1,481,084

(607,052)

Retained earnings

6,049,504

4,685,007

Total shareholders’ equity

38,266,748

23,047,305

TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY

$

39,735,736

$

25,042,418

STARBOX GROUP HOLDINGS LTD AND SUBSIDIARIES

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND

COMPREHENSIVE INCOME

SIX MONTHS ENDED MARCH 31,

2023

2022

Operating revenue

Revenue from cash rebate services

$

10,621

$

5,552

Revenue from digital advertising services

2,220,794

2,911,482

Revenue from payment solution services

4,303

5,379

Revenue from software licensing

1,740,472

–

Total operating revenue

3,976,190

2,922,413

Operating expenses

Selling, general, and administrative expenses

1,996,892

1,003,373

Total operating expenses

1,996,892

1,003,373

Income from operations

1,979,298

1,919,040

Other income, net

Interest income

7,757

–

Other income, net

5,163

203

Total other income, net

12,920

203

Income before income tax

1,992,218

1,919,243

Income tax expenses

627,721

663,224

Net income

$

1,364,497

$

1,256,019

Other Comprehensive income

Foreign currency translation gain (loss)

2,088,136

(9,188)

Total Comprehensive income

$

3,452,633

$

1,246,831

Net income per share – basic

$

0.03

$

0.03

Weighted average number of common shares outstanding – basic

53,089,286

40,000,000

STARBOX GROUP HOLDINGS LTD AND SUBSIDIARIES

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

FOR SIX MONTHS ENDED MARCH
31,

2023

2022

CASH FLOWS FROM OPERATING ACTIVITIES:

Net income

$

1,364,497

$

1,256,019

Adjustments to reconcile net income to cash provided by (used in)
operating activities:

Disposal of fixed assets

2,928

–

Depreciation and amortization

253,662

69,147

Amortization of right-of-use operating lease assets

9,111

42,974

Change in deferred tax

313,963

–

Changes in operating assets / liabilities:

Accounts receivable

(2,809,804)

(1,326,333)

Prepaid income tax

(544,054)

–

Prepaid expenses and other current assets

(9,621,687)

(63,935)

Deferred revenue

362,706

579,355

Taxes payable

(1,063,540)

834,895

Operating lease liabilities

(9,111)

(42,974)

Accrued expenses and other current liabilities

(407,590)

177,101

Net cash provided by (used in) operating activities

(12,148,919)

1,526,249

CASH FLOWS FROM INVESTING ACTIVITIES:

Purchase of fixed assets

(13,183)

(5,011)

Purchase of intangible assets

(17,864,000)

(626,420)

Net cash used in investing activities

(17,877,183)

(631,431)

CASH FLOWS FROM FINANCING ACTIVITIES:

Deferred initial public offering costs

–

(423,994)

Proceeds from equity financing

11,766,810

–

Increase in due from related party

(134)

–

Repayment of related party borrowings

(6,232)

(398,422)

Net cash provided by (used in) financing activities

11,760,444

(822,416)

EFFECT OF EXCHANGE RATE CHANGES ON CASH

1,351,155

(8,955)

NET INCREASE (DECREASE) IN CASH & EQUIVALENTS

(16,914,503)

63,447

CASH & EQUIVALENTS, BEGINNING OF PERIOD

17,778,895

2,295,277

CASH & EQUIVALENTS, END OF PERIOD

864,392

2,358,724

Supplemental Cash Flow Data:

Income tax paid

$

2,011,188

$

–

Interest paid

$

–

$

–

Source: Starbox Group Holdings Ltd.