Not long after raising $80 million, South Korea’s HYBE IM has raised $21 million to boost its growth in game publishing and intellectual-property-based games.
Previous investor IMM Investment contributed KRW 15 billion (approximately $10 million) in follow-on funding, while Shinhan Venture Investment and Daesung Private Equity joined as new investors.
The Seoul, South Korea-based company said this latest round of investment reflects strong market confidence in HYBE IM’s global publishing and service capabilities, as well as the company’s potential to expand its game business using HYBE’s K-pop artist IPs. Investor anticipation surrounding HYBE IM’s first large-scale MMORPG Architect: Land of Exile and Arkheron played a key role in driving the deal.
In August 2024, the company signed a strategic investment agreement of $80 million, demonstrating its competitiveness in the global gaming market. Including the most recent round, HYBE IM has now raised a cumulative total of about $100 million). With this additional investment, HYBE IM plans to further enhance its publishing capabilities and accelerate the execution of its long-term growth strategy. The company is also doubling down on its efforts to ensure that its key titles, backed by prior investments and publishing agreements, can achieve success in the market.
The newly raised funds will be primarily allocated toward marketing, operations, and localization strategies to support the successful launch and stable live service of its titles.
HYBE IM president Wooyong Chung said in a statement, “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 & Mobile) [Images]
Developed by FLINT and published by HYBE IM, Astra: Knights of Veda is a story-rich 2D RPG which reached over one million pre-registrations in less than a week when pre-registration opened in March 2024. The game launched in April 2024 on PC and mobile, giving players a fresh take on classic beat ’em up and side-scrolling combat and gained a lot of attention due to its striking visual style.
The lead-up to launch also saw a number of collaborations with HYBE’s artists, including Seventeen’s Hoshi and Seungkwan, recording OSTs and fromis_9’s Lee Nagyung transforming into the Goddess Veda herself for a dramatic trailer.
The company has about 300 people and its first game was Rhythm Hive, launched in February 2021.
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