BTS agency Hybe raises $80m for video games arm
Hybe Interactive Media has raised $80 million in a strategic investment, enabling it to expand its games publishing operations.
Hybe is the South Korean entertainment giant behind hugely popular boy band BTS, and operates several music labels in various markets. Hybe IM, the company's video games arm, was formed in 2021.
The $80 million round was led by Makers Fund, with other participants including IMM Investment and Hybe itself. The money will be used to expand its publishing and development capabilities.
The company has already released two mobile titles, rhythm action game Rhythm Hive and match-three title BTS Island: In the SEOM, and is due to publish fantasy character collection game Oz Re:write by Macovill and RPG Astra: Knights of Veda by Flint.
Last year, Hybe IM and Hybe both invested in two Korean developers, Aqua Tree and Action Square.
"This substantial investment marks a significant turning point for HYBE IM in strengthening our competitiveness within the global games industry," said HYBE IM President Wooyong Chung stated.
"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."
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