Hybe Interactive Media raises $80m for publishing operations
Makers Fund and IMM Investment among investors in firm with ties to Hype, the company behind Korean boy band sensation BTS
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 April 2022.
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, as well as RPG Astra: Knights of Veda by Flint. It is also due to publish fantasy character collection game Oz Re:write by Macovill.
Last year, Hybe IM and Hybe both invested in Korean developer Aqua Tree, before investing in another Korean studio Action Square earlier this year.
"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."
Correction: Hybe representatives have clarified a few details in this story, including that Hybe IM and Hybe are separate companies. The text and headline have been amended to reflect this.