Afun Interactive attracts Shinhan Asset Management to complete round A bridge financing

03/13/2023 13:28 • Metaverse & Beyond • 76 views

On March 13, the South Korean “virtual K-pop” yuan universe company Afun Interactive announced that it had completed a round A bridge financing of 7 billion won (about US $5.3 million), and Shinhan Asset Management participated in the investment. The company raised 10 billion won (about US $7.6 million) in the previous round A financing. At that time, the investors included CJ Investment, Company K Partners and CJ ENM.

Afun Interactive, a company of Yuan Universe, completed the financing of round A bridge of US $5.3 million

Analysis based on this information:

South Korean company Afun Interactive made headlines on March 13 when it revealed that it completed a round A bridge financing, raising approximately USD 5.3 million. The investment was led by Shinhan Asset Management, a significant financial institution in South Korea with an extensive investment portfolio. This development follows the previous year’s investment round A financing, which saw Afun Interactive raise USD 7.6 million from investors such as CJ Investment, Company K Partners, and CJ ENM.

Afun Interactive is the creator of “virtual K-pop” content, which is essentially an animation-based version of K-pop. The unique blend of music, animation, and gaming has been very successful for the company, with over 17 million followers on Tencent’s QQ Music platform. In addition to this, the company has amassed a considerable number of loyal fans thanks to its avatars, which are based on popular K-pop idols. The company’s main revenue stream comes from the sale of virtual items to its followers.

This recent investment will significantly aid Afun Interactive in expanding its reach and enhancing its offerings. As the company looks to tap into the vast Chinese market, the investment from Shinhan Asset Management will enable it to establish a more substantial presence in China. Furthermore, the company plans to develop more games and virtual tours for its consumers, which this investment will facilitate.

The investment in Afun Interactive is a testament to the growing popularity of virtual K-pop and highlights the exciting potential of new and innovative content. The unique blend of animation, gaming, and music opens up exciting opportunities for the entertainment industry, and investors are keen to capitalize on this trend.

In conclusion, Afun Interactive’s recent round A bridge financing is an essential development that will enable the company to continue expanding its reach and product offerings. The investment from Shinhan Asset Management indicates favorable prospects for the company and the virtual K-pop industry. As the company continues to build on its success, it has the potential to become a major player in the entertainment industry in the coming years.

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