Japanese holding company Brave Group has announced that it has raised an additional ¥1.99B in funding (~US$13.7m) from local venture capital investors. According the company, the additional funding will be used to continuously expand its existing business, both domestically and internationally.
The funding round was led by Simplex Capital Investment Co., and participated by the Tokyo University of Science Innovation Capital Co, Money Forward Venture Partners, Inc. (HIRAC FUND No. 2 Investment Limited Partnership), Revamp Co, and Adways Ventures Inc.
In total, Brave Group has raised ¥5.03B in funding (~US$34.6m). It is worth noting that the company received a ¥300m funding (~US$2.33m) earlier this year from Animoca Brands to strengthen their Web3 offerings. Previous fundings by the holding group include a ¥800m funding in 2020 and a ¥1.37b funding in 2022.
For Brave Group, with this funding, they will be able to continue focusing on their global expansion by strengthening mergers and acquisitions (M&A), alliances, and recruiting activities in Japan and overseas.
The new funding comes weeks after its VTuber subsidiary VSPO! launched new auditions for its English and Chinese branches. Other notable milestones by the company include overseas expansions such as the expansion to Europe with the subsidiary Brave Group Europe and the launch of the VTuber project Globie; as well as its expansion to North America and the launch of its VTuber project V4Mirai, consisted of talents Abi Kadabura and Serina Maiko.
It is also worth noting that Brave Group also recently bared plans for three new domestic VTuber projects: Vlash, Uniraid, and HareVare; all of which are handles by the group company's new subsidiary ENILIS.
Source: Brave Group Press Release