Not lengthy after elevating $80 million, South Korea’s HYBE IM has raised $21 million to spice up its development in sport 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 Personal Fairness joined as new buyers.
The Seoul, South Korea-based firm stated this newest spherical of funding displays sturdy market confidence in HYBE IM’s international publishing and repair capabilities, in addition to the corporate’s potential to broaden its sport enterprise utilizing HYBE’s Okay-pop artist IPs. Investor anticipation surrounding HYBE IM’s first large-scale MMORPG Architect: Land of Exile and Arkheron performed a key position in driving the deal.
In August 2024, the corporate signed a strategic funding settlement of $80 million, demonstrating its competitiveness within the international gaming market. Together with the newest spherical, HYBE IM has now raised a cumulative complete 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 development 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 available in the market.
The newly raised funds might be primarily allotted towards advertising, operations, and localization methods to assist the profitable launch and secure dwell service of its titles.
HYBE IM president Wooyong Chung stated in an announcement, “This extra funding marks a pivotal second in strengthening HYBE IM’s international competitiveness in each sport publishing and growth. We purpose to evolve past IP-based gaming and change into a next-generation writer delivering compelling content material to players 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 every week when pre-registration opened in March 2024. The sport launched in April 2024 on PC and cellular, giving gamers a recent tackle traditional beat ’em up and side-scrolling fight and gained quite a lot of consideration because of its placing visible model.
The lead-up to launch additionally noticed quite a few collaborations with HYBE’s artists, together with Seventeen’s Hoshi and Seungkwan, recording OSTs and fromis_9’s Lee Nagyung reworking into the Goddess Veda herself for a dramatic trailer.
The corporate has about 300 folks and its first sport was Rhythm Hive, launched in February 2021.
