VR live performance startup AmazeVR raises $17m, with Korea’s CJ Leisure becoming a member of as strategic investor

VR live performance manufacturing firm AmazeVR has raised $17 million in new investments in an ongoing spherical of funding.

This spherical, which is able to stay open till late December 2022, joins the $15 million bridge spherical that was raised in 2021, and places AmazeVR’s present Collection B increase at $32 million.

Previous AmazeVR traders are re-upping their pursuits, together with Mirae Asset Capital, Mirae Asset Enterprise Funding, CJ Funding, Smilegate Funding, GS Futures, and LG Expertise Ventures. New strategic traders will be part of, together with CJ ENM and Krafton.

Right now’s information follows AmazeVR’s current Megan Thee Stallion digital actuality (VR) live performance tour and a current three way partnership partnership with Okay-pop big SM Leisure.

AmazeVR was based in 2015, and claims that its proprietary know-how captures “hyper-real 9K+ live-action footage of artists performing” to provide “followers front-row seats to their favourite artists in 3D stage environments”.

The corporate lately produced Megan Thee Stallion’s VR tour, hosted by a partnership with AMC Theatres, in 15 main cities throughout the US with, what it says was a 75% attendance fee for its VR concert events.

AmazeVR says that plans are underway to work with a number of the “largest names in music, each within the US and Korea”.

“The VR leisure business is rising quickly, and we imagine that music and gaming are two of essentially the most promising sectors for future improvement.”

CJ ENM

CJ ENM stated: “What AmazeVR has developed is really top-notch. The VR leisure business is rising quickly, and we imagine that music and gaming are two of essentially the most promising sectors for future improvement.

“CJ ENM plans to transform concert events and music TV exhibits to VR music experiences with AmazeVR’s prime know-how, and convert extra unique content material reminiscent of dramas and flicks sooner or later to maximise their content material worth and enterprise alternatives.”

“With the help of our devoted funding companions, we’re excited to enter the following age of VR concert events and ship actually superb performances on-line to all VR customers.”

Ernest Lee, AmazeVR 

AmazeVR CEO Ernest Lee added: “With the help of our devoted funding companions, we’re excited to enter the following age of VR concert events and ship actually superb performances on-line to all VR customers.

“We’re speaking to iconic names in music to proceed to convey the perfect experiences to their followers.”Music Enterprise Worldwide