Paronym, a Japanese startup that leverages artificial intelligence to develop and provide interactive video solutions, has closed US$6.5 million in a Series B investment round of financing. The round of funding was co-led by Japan Post Capital and NTT Docomo Ventures.
Other participating investors include InVent, the corporate venture capital arm of Bangkok-based Intouch Holdings.
Paronym is dedicated to developing the platform under the name “TIG” will use the fresh capital to advance its expansion agenda into Thailand.
Michio Kobayashi founded Paronym in 2016. The startup provides interactive video technology company and sells its services to mobile operators, OTT service providers, retail brands and government tourism etc.
Dr. Narongpon Boonsongpaisan, Head of InVent, said: “TIG is a platform to enable the interactive video technology to the e-commerce sites. With TIG media, brands can automatically convert the engagement into transactions.”
“Paronym can help many brands to gain higher conversion rate than other types of social media. We see this potential as the future for digital ads to create new enriched experiences to customers and generate more opportunities for SMEs and corporates in Thailand, Japan and Southeast Asia (SEA) in the future,” he added.
“With the new capital investment and the strategic collaborations, Paronym will accelerate the expansion into SEA market, especially Thailand, to bring the best technology we have been developing in Japan. At the same time, we would like to bring back new achievements in Thailand to Japan,” Kobayashi said.