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VR concerts startup AmazeVR raises $17m funding round

AmazeVR made waves with a Megan Thee Stallion partnership earlier this year, filming a concert for viewing with virtual reality headsets in cinemas across the US. It launched shortly after a $15m funding round for the startup, but now it’s raising money again: a further $17m as part of its ongoing Series B round.

K-Pop entertainment company CJ E&M is one of the new backers, alongside games firm Krafton, with various existing investors also participating in the new round. It’s not AmazeVR’s first link with the K-Pop world either: YG Entertainment invested in the startup in 2020.

AmazeVR said it will use the latest cash injection to expand its partnerships with artists, management companies, labels and publishers, as well as boosting its development team. The company is also planning to launch a fully-fledged ‘music metaverse’ in the first half of 2023.