Metacraft Secures 12.5 Billion KRW Investment Over 3 Months... "Collaborating with Topcomedia Using Web Novel IP"

[Asia Economy Reporter Jang Hyowon] Metacraft (CEO Yoo Jungseok), which operates the premium web novel platform Novelpia, announced on the 4th that it has raised 8 billion KRW in Series B funding, valuing the company at 67 billion KRW. This brings the total operating funds secured to 12.5 billion KRW within three months, including the 4.5 billion KRW raised in Series A last February.

The Series B investment included participation from MW-JNM New Media New Technology Investment Association and SJ Global Content Venture Fund.

It is rare in the industry for Metacraft, which was established just over a year ago, to secure consecutive investments in such a short period. This is interpreted as recognition of the platform’s competitiveness, which has shown strong growth in the web novel market within a year, and its business scalability as a novel IP holder capable of expanding into diverse areas such as games, webtoons, dramas, and films.

Unlike other web novel platforms, Novelpia has drawn high responses from authors through initiatives such as doubling settlement payments, the Creation of Heaven and Earth contest, and rapid webtoon adaptations, expanding secondary works. Through this, it has surpassed 1 million subscribers, showing rapid growth in the web novel market with a virtuous cycle effect of increasing readers. Currently, despite entering the web novel market late, Novelpia has secured about 2,000 exclusive IPs.

Through this investment, Metacraft plans to continuously invest in the Novelpia platform itself, marketing, overseas expansion, and accelerate OSMU (One Source Multi Use) businesses such as webtoons, games, and films using web novel IPs so that more readers and authors can enjoy Novelpia. Popular web novels on Novelpia have already been adapted into webtoons by TopCo and are being serviced on Toptoon, with plans to expand services to Japan through TopCo Media in the future.

Additionally, Metacraft recently announced the development of the puzzle game genre mobile game Project S.O.N and revealed four characters from Novelpia’s popular web novel “I Quit the Hero Party.” The game is scheduled to be released in the second half of this year.

This content was produced with the assistance of AI translation services.