- Unith (UNT) undergoes a transformational December 2022 quarter, marked by a name change and rebrand
- During the three months to December 31, 2022, the company converted from Crowd Media to Unith to reflect its new “clean, technological and sharp” brand
- The quarter saw the company begin initial the onboarding of a Big-5-Tech client for its Talking Head technology and sign a contract with NVISO Japan, backed by a European innovation program grant of €74,000 (A$117,000)
- The company ended December 31 with $1.91 million cash in the bank
- Unith is down 2.94 per cent and trading at 3.3 cents at 2:06 pm AEDT
Unith (UNT) has undergone a transformational December quarter, marked by a name change and rebrand.
Unith is a “digital human brand” that uses facial movement deep learning, audio machine learning and conversational design to generate the first customisable, interactive avatar of its kind.
During the December 2022 quarter, the company underwent a name change and rebrand, converting from Crowd Media (CM8) to Unith. The company said the new name reflected its “clean, technological and sharp” brand.
“The rebrand to ‘Unith Ltd’ now truly reflects Unith as the technology frontier of conversational AI solutions with a focus on commercialising scalable digital AI solutions into the market at large,” Unith CEO Idan Schmorak said.
The quarter saw the company begin the onboarding of a Big-5-Tech client for its Talking Head technology: a conversational AI tool that can be scaled across multiple languages.
The onboarding included digital avatars, designed in collaboration with the client, and was programmed with conversational AI functionalities to support daily operations.
The company also signed a contract with NVISO Japan in January 2023 to integrate behavioural analytics into digital humans in conversational settings, which will be deployed in digital kiosks in Japan.
The collaboration is assisted by a European innovation program which will accelerate development work by providing a €74,000 (A$117,000) grant to the project.
“We are delighted to keep delivering technology achievements towards a scaled release of the Talking Head platform, while onboarding significant clients and partners,” Mr Schmorak said.
The company ended December with $1.91 million in cash, with net operating cash outflows amounting to $344,000.
Unith also terminated a revolving credit facility with Vane Finance Technology (formerly BillFront), resulting in savings of approximately $20,000 in interest per annum.
“Looking forward, we continue to be very excited about scaling our cutting-edge technology,” Mr Schmorak continued.
“Our team is completely focused on key commercialisation activities that will enable Unith to grow in a meaningful way, which includes introducing improved conversational abilities based on Autonomous AI conversation, improved scalability and self-user onboarding and developing analytics to be able to provide clients with valuable insights.”
Unith is down 2.94 per cent and trading at 3.3 cents at 2:06 pm AEDT.