23rd Century Children Attracts 3.8 Billion Won in Seed Investment

Virtual entertainment startup 23rd Century Children announced on the 26th that it recently attracted 3.8 billion won in seed investment. Major domestic venture capitals (VCs) such as KB Investment, Korea Investment Partners, Future Play, and Kakao Ventures participated in this investment round.

23rd Century Children is currently producing their first virtual boy group 'WE GO-6', and is preparing for an official debut in the second half of this year. Previously revealed members Haeil, Siwoo, and Wooyeon are continuing to communicate with fans through YouTube live broadcasts and SNS channels, and are forming a fandom even before their debut based on individual stories, music, and content.

Through this investment, 23rd Century Kids plans to build its own production studio, expand its production workforce, and advance its technology. In addition to PDs and creators who produce and plan artist content, recruitment of talent in the field of game engine development for real-time content implementation will also be pursued. The company aims to present a new direction for virtual entertainment by presenting various content centered on interaction between fans and artists.

The investment company cited 23rd Century Kids’ technological prowess and content production capabilities as the background for this investment. Jang Sang-hyeok, director of KB Investment, said, “The team composition and production capabilities based on a deep understanding of technology and art were impressive,” and evaluated, “23rd Century Kids will establish themselves as a major player in the growing virtual idol market.” Ahn Hye-won, senior reviewer at Kakao Ventures, added, “They have continuously attempted new content since the first investment,” and “We have high expectations for their future growth process.”

Kim Hyung-min, CEO of 23rd Century Kids, said, “This investment will be an opportunity to further develop the creation and activities of virtual artists,” and “We will grow into a company that has a positive impact through a new form of popular art that combines technology and art.”