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Venture capital

AmazeVR receives $15 mn from Korean VCs

The company creates virtual concerts with its self-developed cameras and Unreal Engine-based VFX

By Jan 12, 2022 (Gmt+09:00)

An example of virtual concert by AmazeVR Inc.
An example of virtual concert by AmazeVR Inc.

AmazeVR Inc. received a total of $15 million from leading South Korean venture capital firms. The virtual reality platform allows users to experience concerts through its unique content generation tools.

GS Futures, the US venture capital arm of Korean conglomerate GS Holdings, Smilegate Investment, Dunamu & Partners, Murex Partners, Quantum Ventures Korea, and ABC Partners led the new funding. 

Previous backers, such as LG’s corporate VC arm dubbed LG Technology Ventures, Mirae Asset Venture Investment, Partners Investment, and CJ Group’s Timewise Investment also participated in this round. 

Former high level employees of Kakao Corp. founded AmazeVR in 2015; namely co-CEO Steve Lee, CPO and co-founder JB Lee, CTO Jeremy D. Nam, and Head of Engineering Steven Koo. Since opening its doors, the company received funding worth $30.8 million. The company is based in Los Angeles with a local office in Seoul. 

Since 2019, AmazeVR began focusing its efforts on creating virtual concerts by using cameras developed by the firm and Unreal Engine-based visual effects technology. Movie theaters are its main clients. For instance, it signed a partnership agreement with CJ 4DPLEX Co. last September for concert generation and distribution purposes. 

Write to Market Insight Newsroom at insight@hankyung.com

Jee Abbey Lee edited this article.
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