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South Korean entertainment tech firm Makestar raises KRW30 billion in Series D funding
Source: Makestar

South Korean entertainment tech firm Makestar raises KRW30 billion in Series D funding

Philip Lee profile image
by Philip Lee

Seoul, South Korea—South Korean entertainment technology company Makestar announced on Tuesday that it has secured KRW30 billion ($22.2 million) in a Series D funding round.

The latest investment was led by new investors, including U.S.-based HRZ and RPS Ventures, alongside Company K. Existing investors Altos Ventures, KDB Bank, and NextG Investment also participated in the round.

Makestar, founded in 2015, has now raised a total of KRW55.6 billion ($41.2 million). 

The company operates a global K-pop platform fans use in over 230 countries, generating revenue from more than 180 nations.

Makestar is expanding its operations beyond K-pop to include drama, film, animation, platform albums, and content production. 

The company is also focusing investments in AI and ICT technologies related to these areas.

The Seoul-based firm reported annual revenue of KRW95.6 billion ($70.9 million) last year, marking over 100% year-on-year growth. More than 70% of its revenue comes from overseas markets.

Jay Kim, CEO of Makestar, said, "We're pleased to have exceeded our target investment amount, even in this harsh winter for venture investment, recognizing our achievements and vision."

The company plans to invest in developing services that are easily accessible to global fans and strengthen its position as a leading entertainment technology company in the K-culture business.

Philip Lee profile image
by Philip Lee

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