Astra: Knights of Veda and Dungeon Stalkers writer HYBE IM has raised $21 million to speed up its enterprise by leveraging Ok-pop artist IPs.
The corporate mentioned curiosity in its upcoming MMORPGs Architect: Land of Exile and Arkheron additionally drove curiosity within the deal.
HYBE IM is a subsidiary of Korean leisure firm HYBE, a file label, expertise company, and music manufacturing firm maybe greatest recognized for managing immensely widespread boyband BTS by means of its Huge Hit label.
HYBE has been making inroads into the online game trade by means of HYBE IM, which it established in 2022 to spearhead its improvement and publishing ambitions.
The division beforehand secured an $80 million funding from the Makers Fund and different backers in 2024—which means it has now raised over $100 million up to now.
The most recent funding spherical united earlier investor IMM Funding with newcomers Shinhan Enterprise Funding and Daesung Non-public Fairness.
The money will largely be used to bolster advertising, operations, and localization methods to assist the profitable launch and reside service operation of its titles.
HYBE IM president Wooyong Chung mentioned the corporate in the end intends to “evolve past IP-based gaming and change into a next-generation writer delivering compelling content material to avid gamers worldwide.”
