Hybe IM, the interactive media and video games arm of Hybe, has raised $80 million in funding to make video games.
Led by President Wooyong Chung, the corporate is predicated in South Korea. The funding spherical was led by Makers Fund, a number one world investor within the interactive leisure sector. The spherical additionally noticed participation from IMM Funding and Hybe IM’s guardian firm, Hybe.
With this funding, the corporate plans to diversify its recreation publishing and growth efforts, additional increasing its capabilities as a full-service recreation firm, and strengthening its competitiveness within the world video games market. I don’t learn about you guys, however I haven’t heard of both firm.
The corporate mentioned this funding permits Hybe IM to spend money on nice video games, carry them to markets across the globe, and considerably improve Hybe IM’s in-house growth capabilities. By drawing on the energy of its guardian firm, Hybe IM can provide music and video manufacturing integration with a number of the greatest expertise in South Korea’s exploding music and cultural scene.
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Hybe IM made its first formal foray into video games with the profitable launch of Rhythm Hive and BTS Island: Within the SEOM. Since then, Hybe IM has quickly expanded its recreation portfolio by way of publishing contracts for Macovill’s OZ Re:write and Flint’s Astra: Knights of Veda.
In August 2023, Hybe IM, along with its guardian firm Hybe, made strategic investments of $21.8 million in Aqua Tree.
Later in February 2024, they additional strengthened their market affect with an funding of $1.45 million in Motion Sq., the developer of ‘Dungeon Stalkers’. By means of these investments, along with a number of in-house video games, Hybe IM is accelerating its journey to turning into a worldwide full-service recreation firm throughout a number of platforms, genres, and geographies.
Hybe IM President Wooyong Chung mentioned in a press release, “This substantial funding marks a big turning level for HYBE IM in strengthening our competitiveness throughout the world video games trade. With the assist of Makers Fund, IMM Funding, and Hybe, we’ll try for sustainable development and innovation, solidifying our place as a full-service recreation firm.”
Makers Fund founding associate Jay Chi mentioned in a press release, “Hybe IM is poised to seize alternatives in world recreation publishing and growth by way of its distinctive Hybe platform and the relentless dedication of Wooyong and his distinctive crew. South Korea serves as a great launching pad, with its deep pool of world-class recreation designers and their ascending affect. Makers Fund is thrilled to serve and contribute to this thriving ecosystem.”
In the meantime, Hybe IM is increasing the boundaries of Hybe’s leisure enterprise, growing video games that provide an ‘leisure life’ and conducting various publishing actions. Using revolutionary interactive media know-how, Hybe IM supplies customers with quite a lot of content material and companies that ship new experiences.
