Not lengthy after elevating $80 million, South Korea’s HYBE IM has raised $21 million to spice up its progress in recreation publishing and intellectual-property-based video games.
Earlier investor IMM Funding contributed KRW 15 billion (roughly $10 million) in follow-on funding, whereas Shinhan Enterprise Funding and Daesung Non-public Fairness joined as new buyers.
The Seoul, South Korea-based firm stated this newest spherical of funding displays robust market confidence in HYBE IM’s international publishing and repair capabilities, in addition to the corporate’s potential to broaden its recreation enterprise utilizing HYBE’s Ok-pop artist IPs. Investor anticipation surrounding HYBE IM’s first large-scale MMORPG Architect: Land of Exile and Arkheron performed a key function in driving the deal.
HYBE IM president Wooyong Chung.
In August 2024, the corporate signed a strategic funding settlement of $80 million, demonstrating its competitiveness within the international gaming market. Together with the latest spherical, HYBE IM has now raised a cumulative whole of about $100 million). With this extra funding, HYBE IM plans to additional improve its publishing capabilities and speed up the execution of its long-term progress technique. The corporate can be doubling down on its efforts to make sure that its key titles, backed by prior investments and publishing agreements, can obtain success out there.
The newly raised funds shall be primarily allotted towards advertising and marketing, operations, and localization methods to help the profitable launch and secure reside service of its titles.
HYBE IM
HYBE IM president Wooyong Chung stated in an announcement, “This additional funding marks a pivotal moment in strengthening HYBE IM’s global competitiveness in both game publishing and development. We aim to evolve beyond IP-based gaming and become a next-generation publisher delivering compelling content to gamers worldwide.”
ASTRA: Knights of Veda (2024, PC & Cell) [Images]
Developed by FLINT and revealed by HYBE IM, Astra: Knights of Veda is a story-rich 2D RPG which reached over a million pre-registrations in lower than per week when pre-registration opened in March 2024. The sport launched in April 2024 on PC and cell, giving gamers a contemporary tackle traditional beat ’em up and side-scrolling fight and gained a whole lot of consideration because of its hanging visible type.
The lead-up to launch additionally noticed a lot of collaborations with HYBE’s artists, together with Seventeen’s Hoshi and Seungkwan, recording OSTs and fromis_9’s Lee Nagyung remodeling into the Goddess Veda herself for a dramatic trailer.
The corporate has about 300 folks and its first recreation was Rhythm Hive, launched in February 2021.
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