VR concert production company AmazeVR has raised $17 million in new investments in an ongoing funding round.
This cycle, which will remain open until the end of December 2022, joins the $15 million bridge tower which was increased in 2021 and brings AmazeVR’s current Series B increase to $32 million.
Former AmazeVR investors are bolstering their interests, including Mirae Asset Capital, Mirae Asset Venture Investment, CJ Investment, Smilegate Investment, GS Futures, and LG Technology Ventures. New strategic investors will join, including CJ ENM and Krafton.
Today’s news follows AmazeVR’s recent Megan Thee Stallion virtual reality (VR) concert tour and recent joint venture partnership with the K-pop giant. SM entertainment.
AmazeVR was founded in 2015 and claims its proprietary technology captures “hyper-real 9K+ live action footage of artists performing” to give “fans front row seats to their favorite artists in environments 3D scene”.
The company recently produced Megan Thee Stallion’s VR Tour, held in partnership with AMC Theaters, in 15 major cities across the United States with, it says, a 75% attendance rate for its VR concerts.
AmazeVR says plans are underway to work with some of the “biggest names in music, in the US and Korea”.
“The VR entertainment industry is growing rapidly, and we believe music and games are two of the most promising sectors for future development.”
CJ ENM
CJ ENM said, “What AmazeVR has developed is truly top-notch. The VR entertainment industry is growing rapidly, and we believe that music and games are two of the most promising sectors for future development.
“CJ ENM plans to convert concerts and music TV shows into VR music experiences with AmazeVR’s state-of-the-art technology, and convert additional original content such as dramas and movies in the future to maximize the value their content and business opportunities.”
“With the support of our dedicated investment partners, we’re excited to usher in the next era of VR gigs and deliver truly amazing performances online to all VR users.”
Ernest Lee, AmazeVR
AmazeVR CEO Ernest Lee added, “With the support of our dedicated investment partners, we’re excited to usher in the next era of VR gigs and bring some truly amazing performances online to everyone. VR users.
“We’re talking to iconic names in music to continue delivering the best experiences for their fans.”The music industry around the world