AnotherBall raises ¥2.5B to take Japan's VTuber culture global
What's the deal? AnotherBall, a Tokyo-based startup behind the VTuber platform Avvy, has raised ¥2.5B (roughly $17M) in debt financing from four Japanese banks: Shoko Chukin BankDealroom has a profile for this one. Try Dealroom →, MUFG BankDealroom has a profile for this one. Try Dealroom →, Sumitomo Mitsui Banking Corporation, and Mizuho Bank. The round brings the company's total funding to ¥4.7B.
Founded in May 2022 by chief executive Shunsuke Oyu, AnotherBall lets anyone become a VTuber in under a minute through its Avvy app. The funds will go towards international expansion and hiring, with a focus on markets where more than half of its users already reside — primarily North America and East Asia.
Why now? Japan's content exports have grown roughly sixfold over the past decade-plus, reaching about ¥5.8T in 2023 — surpassing semiconductors and steel to become the country's second-largest export industry after automobiles. In June 2025, the Japanese government officially designated content as a "national core industry" and set a target of ¥20T in overseas content revenue by 2033.
Avvy's timing fits neatly into that momentum. Since its 2025 launch, the app hit 200,000 registrations within 10 days of its beta release, with rapid uptake both domestically and abroad.
What could go wrong? The VTuber space is increasingly crowded, with established players like Cover Corp (Hololive) and Anycolor (Nijisanji) already commanding large global audiences. AnotherBall's debt-heavy financing structure also carries risk — loan repayments are less forgiving than equity if growth stalls.
Scaling a creator platform internationally means navigating varied content regulations, localisation challenges, and fierce competition for creator attention in markets where incumbents have deep roots.
The signal: AnotherBall is still at the early growth stage according to Dealroom, yet it secured debt financing from four of Japan's heavyweight corporate lenders — a sign that established financial institutions are willing to back VTuber infrastructure as a credible asset class, not just a niche bet. With incumbent Anycolor already at the late growth stage, the gap between the two underscores how much ground AnotherBall must cover, but also how much room the market still offers for a platform-first approach aimed squarely at democratising virtual content creation.
Read more: forbesjapan.com
