Astra: Knights of Veda and Dungeon Stalkers publisher HYBE IM has raised $21 million to accelerate its business by leveraging K-pop artist IPs.
The company said interest in its upcoming MMORPGs Architect: Land of Exile and Arkheron also drove interest in the deal.
HYBE IM is a subsidiary of Korean entertainment company HYBE, a record label, talent agency, and music production company perhaps best known for managing immensely popular boyband BTS through its Big Hit label.
HYBE has been making inroads into the video game industry through HYBE IM, which it established in 2022 to spearhead its development and publishing ambitions.
The division previously secured an $80 million investment from the Makers Fund and other backers in 2024—meaning it has now raised over $100 million to date.
The latest funding round united previous investor IMM Investment with newcomers Shinhan Venture Investment and Daesung Private Equity.
The cash will largely be used to bolster marketing, operations, and localization strategies to support the successful launch and live service operation of its titles.
HYBE IM president Wooyong Chung said the company ultimately intends to “evolve beyond IP-based gaming and become a next-generation publisher delivering compelling content to gamers worldwide.”
