Japan-based online entertainment provider Showroom secured ¥3.1bn ($28.6m) yesterday in a primary and secondary round featuring marketing firm Dentsu, broadcaster Nippon Broadcasting System, internet company GMO and mobile game producer Akatsuki.
Business development firm Dream Incubator also took part while internet company DeNA sold part of its existing stake as part of the transaction.
Spun off from DeNA in 2015 as joint venture with entertainment producer Sony Music, Showroom operates a live video streaming platform with more than 3 million registered users that focuses on performers and public figures such as idols and voice actors.
The company also oversees an entertainment-related intellectual property business, and will use the cash to hire technology talent, strengthen marketing efforts and develop new augmented and virtual reality apps. It is additionally considering expanding its business outside of Japan.
