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 relies 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 sport publishing and improvement efforts, additional increasing its capabilities as a full-service sport firm, and strengthening its competitiveness within the world video games market. I don’t find out 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 improvement capabilities. By drawing on the energy of its guardian firm, Hybe IM can provide music and video manufacturing integration with a number of the finest 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 sport portfolio through 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 these investments, along with a number of in-house video games, Hybe IM is accelerating its journey to changing into a world full-service sport firm throughout a number of platforms, genres, and geographies.
Hybe IM President Wooyong Chung mentioned in an announcement, “This substantial investment marks a significant turning point for HYBE IM in strengthening our competitiveness within the global games industry. With the support of Makers Fund, IMM Investment, and Hybe, we will strive for sustainable growth and innovation, solidifying our position as a full-service game company.”
Makers Fund founding companion Jay Chi mentioned in an announcement, “Hybe IM is poised to capture opportunities in global game publishing and development through its unique Hybe platform and the relentless dedication of Wooyong and his exceptional team. South Korea serves as an ideal launching pad, with its deep pool of world-class game designers and their ascending influence. 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, creating video games that supply an ‘entertainment life’ and conducting numerous publishing actions. Using revolutionary interactive media expertise, Hybe IM supplies customers with quite a lot of content material and providers that ship new experiences.
