The Black Label Inc., the studio behind the soundtrack for Netflix Inc.’s KPop Demon Hunters, raised about 120 billion won ($80 million) of expansion capital from major entertainment names including Tencent Holdings Ltd.’s music arm.
South Korean gaming firm Krafton Inc. and Tencent Music Entertainment Group led a Series B funding round that valued the record label at 1 trillion won. Existing investors including Saehan Ventures participated, the startup said in a statement.
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