Japan-based virtual talent agency Ichikara raised ¥1.9bn ($17.7m) in series B funding from investors including diversified trading group Itochu and record company Sony Music Entertainment yesterday.
The round was also backed by Keihanna ATR, an investment vehicle run by telecommunications firm KDDI and electrical component producer Sumitomo Electric, in addition to Legend Capital, the venture capital firm originally formed by conglomerate Legend Holdings.
Founded in 2017, Ichikara operates a virtual YouTuber project dubbed Nijisanji which has about 100 livestream influencers and which organises music production and events, also providing associated goods and digital content. It has 10 million subscribers and had generated 1 billion views as of this month.
The company will use the series B cash for hiring, notably graphic designers and engineers, as well as expansion outside Japan. The round took its overall funding to approximately $27.9m.
Ichikara had secured $6.6m from social game provider KLab, and SBI Investment, a subsidiary of financial services firm SBI, which took part through its SBI AI & Blockchain Fund, in addition to undisclosed China-based backers, in August 2019.
