HeyGen Is Canceling Its Local Registration Possibly in Connection with a New $5.6 Million Funding Round

HeyGen Is Canceling Its Local Registration Possibly in Connection with a New $5.6 Million Funding Round

Dissolution of Surreal AI, the Startup Behind HeyGen

AItechtalk has reported that Surreal AI, the AI startup responsible for creating the HeyGen video generation tool, is in the process of dissolving and plans to deregister its domestic entity.

Creditor Claims Announcement and Dissolution Details

Information from Tianyancha indicates that starting December 11, 2023, Surreal AI is set to apply for deregistration following a resolution for dissolution. The company has asked creditors to submit their claims to the appointed liquidation committee within a specified 45-day period following the announcement.

HeyGen’s Rise to Popularity

HeyGen has garnered significant interest this year, initially gaining domestic notice with a video of Taylor Swift speaking Chinese. The tool’s viral spread was further fueled by notable figures like Steve Jobs and celebrities being depicted speaking various languages.

Advanced Video Generation Capabilities of HeyGen

With its realistic video generation and support for multiple voices and languages, HeyGen impresses users with precise synchronization and native-like voice tones matched to lip movements. It also offers innovative AI video translation features.

Technological Advancements Shaping Industry Perception

Industry experts have recognized the advancements made by HeyGen, noting that what used to take 20-30 minutes of voice material for training a voice model now takes just seconds with HeyGen, setting a new standard in lip-syncing accuracy.

HeyGen’s Financial Success

HeyGen’s popularity translated into financial success, reaching $1 million in annual recurring revenue by March and a $10 million growth by October, with a staggering 92% increase in web traffic in September, ending up at $18 million.

Funding Milestones for Surreal AI

Surreal AI achieved significant funding milestones within its first year, with two rounds of investment from major firms and a Pre-A round of millions of dollars led by IDG Capital. The latest $5.6 million investment brought the company’s valuation to $75 million.

Impact of Funding on Corporate Structure

The recent investment round, led by Conviction Partners and featuring Silicon Valley’s Sarah Guo, is believed to influence the restructuring of Surreal AI, suggesting strategic distancing from its Chinese roots as part of its globalization efforts.

Driving Factors for HeyGen’s Localization in China

Industry insiders have identified multiple reasons for HeyGen’s decision to localize in China, including better access to foreign clients and practical considerations such as reducing costs and taxes, in addition to circumventing potential suppression from overseas governments.

Global Aspirations and User Experience Concerns

Targeted at global markets, HeyGen has had a focus on international expansion since inception, addressing user concerns regarding regional restrictions and registration processes required to access its services via email or social media accounts.

Background of HeyGen’s Founders and Venture into AI Video Production

HeyGen’s founders, Joshua Xu and Wayne Liang, have prestigious educational backgrounds and experience with leading tech companies. They aim to revolutionize corporate video production through AI, drawing parallels to the emergence of mobile photography.

Introduction of New AI Avatar Feature and Technological Collaborations

HeyGen recently unveiled a new AI avatar generator feature that simplifies the avatar creation process for videos. This innovation, among others, is supported by HeyGen’s in-house developed video AI model, integrated with advanced language and audio technologies from leading organizations
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