Modhaus, a K-pop platform that leverages blockchain for fan participation and home to girl groups ARTMS and tripleS, has secured $8 million in a Series A funding round led by Sfermion, a U.S.-based investment firm focused on the future of entertainment. Modhaus has raised 16 billion Korean Won (approximately $13 million) of total investment to date.

Under the stewardship of CEO Jung Byung Gi and K-pop producer Jaden Jeong, Modhaus has crafted COSMO, an innovative platform where fans immerse themselves in the idol creation journey by casting votes recorded on blockchain. They collect non-fungible tokens (NFT)-formatted photocards of their favorite idols to earn tokens, which unlock voting rights. These tokens grant fans a say in various group operations, ranging from member selection to title song choices and album photoshoot locations. This interactive model has birthed the fan-driven idol group tripleS, and enticed members HeeJin, HaSeul, Kim Lip, JinSoul, and Choerry of group LOONA to join forces with Modhaus, now gearing up for promotions under the alias ARTMS.

Modhaus's journey began with a seed investment from Unopened, a startup studio affiliated with Hashed, an early-stage blockchain fund based in Korea. Following this, Naver D2SF, CJ Investment, and FuturePlay saw the potential, joining in for the Pre-Series A round in May 2022. The current Series A round, bolstered by a diverse group of investors including GlobalBrain, Youbi Capital, Reflexive, and several others, marks a significant milestone in Modhaus's quest to redefine fan engagement within the K-pop scene.

The tangible impact of Modhaus's approach is best epitomized by the success of girl group tripleS, who, under Modhaus's banner, has released five albums and clinched a nomination for the 'Best New Female Artist' at the 2023 'MAMA (Mnet Asian Music Awards).'

Reflecting on the growth, Joseph Baek, Modhaus co-founder, states, “In just two years, Modhaus has garnered recognition from investors for its dual prowess in entertainment and platform operation." He further noted, "With this investment, we're geared to launch our new IP globally and evolve COSMO into a multi-IP platform, marking a new chapter in fan-participatory entertainment.”

Dan Patterson, General Partner at Sfermion, expresses optimism in Modhaus’s venture, spotlighting its potential to synergize entertainment and technology. "We at Sfermion are thrilled to support Modhaus, a platform that has innovatively bridged the Kpop fandom with both tangible and digital realms through NFTs. Their journey has been remarkable, demonstrated by their recent MAMA nomination. This investment signifies more than just financial backing; it's a venture into melding the energetic world of K-pop with the expansive narrative of the metaverse. We congratulate Modhaus on their noteworthy recognition, and eagerly anticipate the fruitful journey ahead as we explore the convergence of K-pop's charm with the boundless opportunities of the immersive internet."

With fresh capital, Modhaus is bolstering its team with industry veterans like CPO Jaehyun Park and COO Yongho Oh, aiming to refine its technological and operational capabilities further.

Modhaus is not just a startup; it's a new rhythm in the K-pop sector, where fans, artists, and cutting-edge technology compose the melody of modern entertainment.