Amaze VR raises US$7m in Series A

Amaze VR, a premium VR content creation and distribution platform, raised US$ 7 million. Mirae Asset-Naver New Growth Investment Fund led the investment, along with LG Technology Ventures, Timewise Investment and Smilegate Investment.

Launched in April 2017, the app made #1 ranked Free App in the Gear VR Oculus Store within five months of its debut. It has been reached over one million downloads to date.

The company’s proprietary camera and cloud service allow creators to shorten the time for stitching VR content from hours to 5 minutes. Amaze VR provides software for creators to rapidly produce branching narrative content without an entire team of engineers. The app offers a path for creators to monetize their contents, on-demand and premium pass model.

CEO Lee Seung-Jun said “To bring VR industry to next level, we are providing easy-to-use software for contents creation and monetization strategy for creators.” and “we’ll lead a new paradigm of VR industry with content creation, proprietary software and strategic investors.”

Amaze VR was developed by a team of Korean technology veterans which served as early executives of Kakao. The company is founded by CEO Lee Seung-Jun(former Kakao head of strategy), CPO Lee JB (former co-CEO), CTO Nam Dae-Ryun (former senior software engineer) and head of engineering Koo Kyung-Ryul (former head of messaging team).

Based on the article by Platum

Leave a Reply

Your email address will not be published. Required fields are marked *