AmazeVR lands $7m in funding, teams up with LG for content production

AmazeVR, a virtual reality content creation platform provider, has secured an additional US$7 million in a fundraise led by Japan’s Mirae Asset Group.

South Korean firms Timewise Investment and Smilegate Investment also participated in the round, along with US-based LG Technology Ventures, the venture capital arm of South Korea’s LG Group.

Photo credit: Pixabay

With the new funds, AmazeVR plans to accelerate the development of proprietary content created and distributed through its cloud-based platform and partners.

The company also announced that a collaboration with LG Uplus, a cellular carrier owned by LG to co-produce content that will be hosted on AmazeVR’s platform. The partnership will leverage LG Uplus’ position as one of the leaders in the global 5G race for cloud-based VR use cases.

Established in 2015 by a team of Korean tech veterans, AmazeVR aims to clear the content hurdle that prevents the mass adoption of VR. The company offers content creation tools that can be accessed by consumers through its on-demand and Premium Pass models.