The interactive media and gaming division of Hybe, Hybe IM, has raised $80 million to develop games.
The business is headquartered in South Korea and is run by President Wooyong Chung. Leading international investor in interactive entertainment, Makers Fund, led the financing round. Hybe, the parent firm of Company, and IMM Investment also participated in the round.
By means of this investment, the company intends to broaden the scope of its game creation and publishing endeavors, enhance its capacity as a comprehensive game company, and fortify its competitive edge in the worldwide games industry.
According to the company, this investment will greatly improve Hybe IM’s internal development skills and enable it to make investments in high-caliber games that it can market globally.
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It can provide music and video production integration with some of the top talent in South Korea’s rapidly developing music and culture industry by leveraging the strength of its parent company.
Makers Fund founding partner Jay Chi said in a statement, “Hybe IM is poised to capture opportunities in global game publishing and development through its unique Hybe platform and the relentless dedication of Wooyong and his exceptional team. South Korea serves as an ideal launching pad, with its deep pool of world-class game designers and their ascending influence. Makers Fund is thrilled to serve and contribute to this thriving ecosystem.
After Rhythm Hive and BTS Island: In the SEOM launched successfully, Hybe IM made its first official entry into the gaming industry. Since then, publication deals for Macovill’s OZ have allowed Hybe IM to quickly increase the variety of games it offers. Rewrite and Flint’s Astra: Vedic Knights. While Hybe IM employs 240 people, Hybe employs 790 people.
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Hybe IM and its parent business Hybe invested $21.8 million in Aqua Tree as a strategic move in August 2023.
Hybe IM President Wooyong Chung said in a statement, “This substantial investment marks a significant turning point for HYBE IM in strengthening our competitiveness within the global games industry. 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.”
They increased their market power later in February 2024 when they invested $1.45 million in Action Square, the company behind “Dungeon Stalkers.” Hybe IM is fast-tracking its transition into a worldwide full-service gaming company by utilizing these investments in addition to a number of in-house titles that span many platforms, genres, and regions.
Hybe IM, on the other hand, is growing Hybe’s entertainment business by creating games that provide a “entertainment life” and carrying out a variety of publishing tasks. Hybe IM uses cutting-edge interactive media technology to provide users a range of services and content that create fresh experiences.
About Hybe IM
HYBE, rebranded from Big Hit Entertainment in March 2021, is a global entertainment lifestyle platform that wants to innovate the music industry through endless growth. Since, HYBE has offered music, management, concerts, video content, games, original stories, and more based on three business pillars: label, solution, and platform.
