AI Toy Ecosystem - Hardware and AI Platform for Smart Consumer Devices

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AI Toy Ecosystem - Hardware and AI Platform for Smart Consumer Devices

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Haivivi (Yueran Innovation), a leading domestic AI toy company in China, completed a 200 million RMB Series A financing round led by CICC Capital, Sequoia China Seed Fund, Huashan Capital, and Joy Capital. The company pioneered the integration of large language models into consumer toys, launching its first AI toy BubblePal in June 2024 — a device hung on plush toys supporting role-playing and multilingual conversation for children, which sold over 200,000 units. Its second-generation product CocoMate embeds the AI module directly into plush toys with built-in 4G connectivity, removing Wi-Fi dependency, and features a shake-to-wake interaction design. The CocoMate series includes Ultraman IP limited editions in partnership with the IP holder, as well as original IP 'Bubble'. The company's end-to-end speech model shortens response speed to 800ms while preserving emotional details in speech, and its 'forgetting mechanism' algorithm simulates human memory to make AI interactions feel more lifelike. Haivivi's vision for 'lifelike' AI toys includes four elements: autonomy (active knowledge absorption), sociality (relationships with other AI toys), value alignment (gradual consistency through interaction), and limitations (appropriate forgetting to maintain authenticity). Core team members include founder Li Yong, who helped scale Tmall Genie from zero to 30 million units.

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