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Virtual reality concert platform AmazeVR raises funds ahead of its first release

AmazeVR has announced it has raised US$15 million (~€13.2 million) for its virtual reality concert platform. The tool connects you with your favourite bands through VR; you join as an avatar and experience VR shows with other users.

The latest investment round, which was oversubscribed in three weeks, takes the total amount secured by AmazeVR US$30.8 million (~€27.1 million). Apparently, the company plans to raise a Series B in early 2022 to accelerate its growth trajectory.

AmazeVR plans to release its first concert this Spring with Megan Thee Stallion. The VR experience will be available in some AMC Theaters in the US for over 100 customers at a time. The VR performance has been built on Unreal Engine, with proprietary 9K cameras and software used to automate complex VR visual effects.

The start-up says it has already secured its second show, with a performer it describes as "a global A-list artist". AmazeVR has also stated that it plans to share concerts weekly by 2024, with the experience available for in-theater and at-home viewers.

The company was founded in 2015 by JB Lee, Steve Lee, Jeremy Nam and Steven Koo, all of whom had worked for Kakao, a messaging app. Since then, AmazeVR has hired over 40 people across its Los Angeles and Seoul offices.