SEOUL—For decades, theme parks were built around beloved characters. Now, a Seoul-based startup wants to make the fan the star.
Millennials Works, which operates AI-powered immersive entertainment venues under its SPACE:V brand, announced Tuesday the launch of its Series A funding round—a milestone that arrives on the heels of a strategic investment from SM Culture Partners, the corporate venture arm of K-pop powerhouse SM Entertainment. Earlier backers Pacemakers and CNTTech also participated in the round, the company said.
The funding crystallizes a broader shift in the $600 billion experiential economy: as streaming fatigue sets in and fans crave proximity to the IP worlds they love, a new generation of tech-first entertainment operators is moving to fill that gap—and attract the capital that once flowed exclusively to Hollywood studios and legacy theme-park operators.
FROM PASSIVE VIEWERS TO MAIN CHARACTERS
The company’s pitch is straightforward, if technically ambitious. Its flagship platform, SPACE:V, uses real-time motion tracking and generative AI to insert visitors into scenes from their favorite IP universes—gaming franchises, K-pop fandoms, webtoon narratives—producing personalized digital assets they can share and keep. A companion product, ANYMOMENT, delivers similar experiences through AI content kiosks deployed in high-traffic retail and entertainment venues.