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

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

New strategic investors include CJ ENM and Krafton. Past investors reupping their interests include Mirae Asset Capital, Mirae Asset Venture Investment, CJ Investment, Smilegate Investment, GS Futures, and LG Technology Ventures. The round will stay open through the end of the year.

AmazeVR offers 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 VR headset releases.

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