AmazeVR Secures $15M to Bring Immersive Concerts to VR

AmazeVR, a Los Angeles-based company that creates on-demand VR video, has raised $ 15 million in funding to refocus its efforts on creating VR concerts. The company says their first major immersive concert will feature artist Megan Thee Stallion and debut this spring at activations in select AMC theaters. In the future, the company also plans to offer its in-depth concerts for headsets at home.

Update (January 11, 2022): AmazeVR announced today that its latest funding amounts to $ 15 million. This includes $ 9.5 million raised in early 2021, reportedly bringing the company’s total funding to $ 30.8M.

Partners Investment Investment, Smilegate Investment, Quantum Ventures Korea, ABC Partners, Everrich Group and GS Futures participated in the $ 15 million bridge financing round, according to AmazeVR.

“This funding allows us to continue to hire aggressively,” said AmazeVR co-CEO Ernest Lee. “In 2021, we tripled our team in Hollywood and Seoul. We’ve been able to attract top talent from the industries we touch. This puts us in an ideal position to take full advantage of VR and the metaverse’s growing popularity as we delivers breathtaking VR concerts from great artists, first to theaters, then to homes around the world. “

Funding comes ahead of the company’s first “VR concert tour,” which will bring an immersive concert experience with artist Megan Thee Stallion to select AMC theaters this spring. AmazeVR says the experience makes use of “proprietary 9K cameras” to capture artists, environments based on the Unreal Engine and operating with about 100 headsets simultaneously.

In the future, the company plans to use the same technology and platform to release new immersive concerts on a regular basis, including releases at home for those with their own VR headsets.

The original article, which covers the $ 9.5 million portion of the AmazeVR investment from early 2021, continues below.

Original Article (April 12, 2021): The most recent round was led by Murex Partners, with the participation of We Ventures, Bass Investment and Dunamu & Partners. Additional existing investors joining the round include Mirae Asset Venture Investment, Mirae Asset Capital, Partners Investment and Timewise Investment.

According to data reported by Crunchbase, the latest round brings the company’s lifetime financing up to $ 25.3 million.

AmazeVR was founded in 2015 and has previously focused on building its 360 video subscription service for VR headsets, which has a variety of content. However, the company has recently switched to exclusively recording musical artists, allowing fans to get a close and personal overview of pre-recorded content that has been mixed with computer-generated effects.

“[M]cheese artists do not spend all their time on the road, often only on tour every few years, and when they are on tour, it is only possible to hit the biggest countries and cities, ”the company explains in a press release. “However, with AmazeVR’s Immersive Concert experience, artists can reach fans through cinemas, VR headsets, unique pop-up events, and more.”

AmazeVR says that it has worked closely with artists and labels over the past many months, and that it now aims to ‘reinvent’ the fan experience.

“We are rapidly expanding our artist pipeline and entering into broad distribution agreements to bring amazing artist-to-fan engagement to millions of people worldwide,” said Ernest Lee, Co-CEO of AmazeVR. “Our efforts are further supported by interest in the VR market, where Apple is preparing to release a VR headset, and Oculus Quest 2 represents a growing percentage of Facebook’s revenue. As more and more consumers access VR technologies – it be it through headsets, theaters or even their phones – there is a huge potential for Immersive Concerts. ”

A pop-up activation is expected to arrive in LA sometime this year, which is said to include a virtual tour bus equipped with haptic chairs and VR headsets.

Additional reporting by Ben Lang


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