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Avanti Studios has raised €5 million (US$5.81 million) in an oversubscribed seed funding round, bringing its total funding to €10 million (US$11.63 million).
The round included continued backing from Genting Casinos UK, alongside other investors.
Avanti Studios says it aims to transform live dealer casino gaming by combining motion capture technology and artificial intelligence to create highly immersive live casino experiences at significantly lower operating costs than traditional offerings.
“I’m incredibly proud of the investor group we’ve assembled,” said Gustaf Hagman, Avanti Co-Founder and former LeoVegas CEO. “Their backing demonstrates not just a belief in our company, but a belief in the future, and I’d like to give a special thank you to the board of Genting Casinos UK for their continued support, guidance and the overall contribution they’ve made to our journey so far.”
The funding announcement comes as Avanti prepares to launch its first casino content this month. The company plans to initially test its technology in Spain before expanding into additional markets, including Brazil.
“Avanti is thrilled to have finalised its second stage of funding in what has been one of the biggest investment rounds in an industry start-up this year,” said Jonas Delin, former CEO of LeoVegas’s live dealer arm Authentic. “We strongly believe that the future belongs to real-time, lifelike, interactive digital humans, and to see so many investors share this vision with us indicates one thing… this is only the beginning!”