Entertech Company Makestar Secures Series D Investment Worth 30 Billion KRW

Entertech company Makestar has secured a total of 30 billion KRW in Series D funding from major domestic and international investors.

According to industry sources on the 8th, new investors such as US-based firms HRZ, RPS Ventures, and Company K participated in this round. Existing investors Altos Ventures, KDB Industrial Bank, and Next G Investment also participated consecutively. Makestar's cumulative investment amount has reached 55.6 billion KRW.

Founded in 2015, Makestar is an entertech company celebrating its 10th anniversary this year. It has established itself as a global K-pop platform visited by users from over 230 countries worldwide, generating sales in more than 180 countries. As of last year, it achieved sales of 95.6 billion KRW, with over 70% of revenue coming from overseas. Recently, it has been expanding its business areas to include film, animation, platform albums, and content production.

Kim Jaemyeon, CEO of Makestar, said, "Over the past 10 years, we have strived to overcome physical limitations to connect closely with fans and artists worldwide and to create a culture of enjoying new K-pop." He added, "We are pleased that Makestar's achievements and vision have been recognized as we exceeded our target investment amount despite the harsh conditions in the venture investment market."

CEO Kim also stated, "We will continue to invest in developing services that fans around the world can use easily and conveniently," and "We will further strengthen our global capabilities and continue to grow as a leading entertech company that innovates the K-culture business."