M17 Entertainment , a Taipei-based administrator of the largest live stream for Developed Asia, secured around US$26.5m in Series D funding the round was driven by Vertex Growth Fund closed by Stonebridge Korea Unicorn Venture Fund, Innovate Capital Singapore, Kaga Electronics Co., Ltd., and ASE Global Group in New York.
The organization means to utilize the funding to keep on developing in Japan just as grow to the US and other key new markets. “Established in Taiwan in 2015 and driven by CEO Joseph Phua, M17 gives a virtual stage to entertainers to investigate what is conceivable both creatively and monetarily, by permitting them to feature their ability and interface continuously and upfront with fans.”
In a press release, the organization said it is on target to accomplish US$180 million in yearly incomes this year, attributable to a bunch of positive patterns, for example, solid execution in the Japanese live diversion showcase.
M17 Entertainment currently has a presence in Taiwan, Singapore, Hong Kong, Japan, South Korea, the US., and Malaysia, and employees close to 600 people worldwide.
A year ago it raised a US$40 million Series A round from financial specialists including Infinity Venture Partners (IVP), Vertex, Yahoo Japan, Majuven, Golden Summit Capital, and Korean endeavor firm, KTB Ventures.
In June this year, the organization retired an IPO endeavor on the New York Stock Exchange subsequent to neglecting to meet its gathering pledges target.