amazevr

amazevr

Photo courtesy of AmazeVR

Virtual reality startup AmazeVR now has $17 million to further expand its VR concert experience.

The West Hollywood-based company’s latest funding amounts to a bet that virtual shows, a staple of the pandemic, are here to stay. Mirae Asset Capital led the Series B funding round, with Mirae Asset Financial Group subsidiary (Mirae Asset Venture Investment), CJ Investment, Smilegate Investment, GS Futures and LG Technology Ventures investing again. Mobile game maker Krafton joined the group—but South Korean entertainment company CJ ENM’s stake reveals AmazeVR’s plans to expand into K-pop world.

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Photo courtesy of AmazeVR

Virtual concerts took off in 2020 when the coronavirus forced musicians to cancel or postpone in-person shows. The looming question is whether the tech startups that raised a ton of cash during the pandemic can keep the momentum going as concerts in the real world return.

It may be a while before that question can be definitively answered. But a new deal struck by West Hollywood-based AmazeVR signals that the music industry is still very interested in virtual shows, especially those that take place in the much-hyped metaverse.

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Courtesy of AmazeVR

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A Megan Thee Stallion concert is coming to Los Angeles, but the Grammy-winning rapper won’t be at the show — at least not physically.

On Monday, Megan announced the launch of a virtual reality concert “tour” that will allow fans in 10 U.S. cities to gather in movie theaters, strap on VR headsets and watch the rapper perform a pre-recorded set. The tour—dubbed “Enter Thee Hottieverse”—is produced by AmazeVR, a West Hollywood virtual reality startup that recently raised $15 million to bring VR concerts to music fans.

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