​Megan Thee Stallion performing on stage in a blue and white leotard.
Wikimedia Commons

AmazeVR Raises $15 Million to Bring Music Fans Virtual Reality Concerts With Artists Like Megan Thee Stallion

AmazeVR, a West Hollywood-based virtual reality startup that allows users to experience musical artists’ VR concerts, has secured $15 million in new funding.


The funding round was co-led by Partners Investment and Murex Partners and was oversubscribed within three weeks, according to TechCrunch. The deal takes AmazeVR to nearly $31 million in capital raised since its launch in 2015, with the startup now plotting a Series B raise in early 2022 to fuel further growth, it told the publication. Founded by former executives of South Korean messaging app Kakao, the company has more than 40 employees across its offices in West Hollywood and Seoul.

AmazeVR’s platform provides music lovers with a more immersive way to experience concerts from home. Fans can join concerts as avatars, come face-to-face with artists, and hang out with other users, co-CEO Ernest Lee told TechCrunch. AmazeVR is rolling out its first commercial VR concert this spring by bringing Grammy-winning rapper Megan Thee Stallion’s show to select AMC Entertainment theaters across the U.S.

“Our goal is for the technology to be so good that it becomes invisible so that the fan’s memory is not that of a great VR experience, but it’s that they actually came face-to-face with their favorite artists in fantastical immersive environments, blurring the lines of reality,” Lee said.

AmazeVR isn’t the only L.A.-based VR firm to raise money recently. Concert livestreaming platforms Wave, Moment House, LiveXLive and LoopedLive, among others, have received investments over the past couple years as live concerts faded and artists went searching for another way to reach their audiences.

Subscribe to our newsletter to catch every headline.

Cadence

When Darien Williams and Melanie Wolff opened Brella, their Montessori-inspired childcare center, in Playa Vista in 2019, they were inspired by the likes of WeWork and SoulCycle, which had multiple locations and easy-to-use apps for scheduling meetings and workout sessions. The pair found that parents juggling hectic day jobs with their children’s preschool schedules were drawn to a tech-enabled, more flexible way to schedule childcare for their kids.

Read more Show less
Keerthi Vedantam

Keerthi Vedantam is a bioscience reporter at dot.LA. She cut her teeth covering everything from cloud computing to 5G in San Francisco and Seattle. Before she covered tech, Keerthi reported on tribal lands and congressional policy in Washington, D.C. Connect with her on Twitter, Clubhouse (@keerthivedantam) or Signal at 408-470-0776.

Despite — or in many cases because of — the raging pandemic, 2020 was a great year for many tech startups. It turned out to be an ideal time to be in the video game business, developing a streaming ecommerce platform for Gen Z, or helping restaurants with their online ordering.

But which companies in Southern California had the best year? That is highly subjective of course. But in an attempt to highlight who's hot, we asked dozens of the region's top VCs to weigh in.

We wanted to know what companies they wish they would have invested in if they could go back and do it all over again.

Read more Show less
Ben Bergman

Ben Bergman is the newsroom's senior finance reporter. Previously he was a senior business reporter and host at KPCC, a senior producer at Gimlet Media, a producer at NPR's Morning Edition, and produced two investigative documentaries for KCET. He has been a frequent on-air contributor to business coverage on NPR and Marketplace and has written for The New York Times and Columbia Journalism Review. Ben was a 2017-2018 Knight-Bagehot Fellow in Economic and Business Journalism at Columbia Business School. In his free time, he enjoys skiing, playing poker, and cheering on The Seattle Seahawks.

https://twitter.com/thebenbergman
ben@dot.la
RELATEDTRENDING
LA TECH JOBS
interchangeLA