Technology AmazeVR raises $17 million in new money for its...

AmazeVR raises $17 million in new money for its concert platform

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AmazeVR has announced that it has raised $17 million in new investments as part of its current fundraising round. This brings the total amount raised in Series B to $32 million.

New strategic investors include CJ ENM and Krafton. Past investors retaking their holdings include Mirae Asset Capital, Mirae Asset Venture Investment, CJ Investment, Smilegate Investment, GS Futures and LG Technology Ventures. The round will remain open until the end of the year.

AmazeVR provides a VR-based concert platform and became especially popular during the pandemic. Earlier this year, it hosted Megan Thee Stallion’s Enter Thee Hottieverse VR concert series. According to AmazeVR, the company plans to expand its relationships with artists and hire more employees (the company currently has 62) in preparation for future releases of VR headsets.

A CJ ENM spokesperson said in a statement: “The VR entertainment industry is growing rapidly and we believe music and gaming are two of the most promising sectors for future development. CJ ENM plans to host concerts and music TV shows to into VR music experiences with AmazeVR’s flagship technology, and convert additional original content such as dramas and movies in the future to maximize their content value and business opportunities.”

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Shreya has been with ukbusinessupdates.com for 3 years, writing copy for client websites, blog posts, EDMs and other mediums to engage readers and encourage action. By collaborating with clients, our SEO manager and the wider ukbusinessupdates.com team, Shreya seeks to understand an audience before creating memorable, persuasive copy.

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