AmazeVR plans to use the funds to expand its team and scale its content creation. Here are the top-line bullets you need to know.
AmazeVR, a virtual reality concert platform, has raised $15M in an extended Series B round that drew participation from ABC Partners, Bass Investment, and Mirae Asset Capital, among others.
How’s the company performing?
- California-based AmazeVR enables users to create immersive VR concerts.
- The company will launch its first VR concert tour with Megan Thee Stallion and AMC theatres this year.
- It has 41 employees — up from 12 at the start of 2021.
Why does the market matter?
- The global virtual reality market is expected to reach a value of $84.1B by 2028, growing at a CAGR of 44.8%, according to Fortune Business Insights.
- The use of VR is gaining popularity across various industries, such as gaming and entertainment, healthcare, defense, automotive, and education.
- Entertainment providers have increasingly adopted VR technologies to compensate for the loss of live events amid the pandemic.
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