The Fortnite and Unreal Engine maker aims to build the metaverse.
Epic Games has raised another $2 billion in its latest funding round to build the metaverse and support its continued growth. The latest funding round puts the Fortnite-maker’s post-money equity valuation at $31.5 billion.
The latest funding round sees investment from two companies, existing investor Sony Group Corporation as well as KIRKBI. KIRKBI is the private holding and investment company built to ensure the sustainability of the LEGO brand.
“As a creative entertainment company, we are thrilled to invest in Epic to deepen our relationship in the metaverse field, a space where creators and users share their time.” said Kenichiro Yoshida, Chairman, President and CEO, Sony Group Corporation. “We are also confident that Epic’s expertise, including their powerful game engine, combined with Sony’s technologies, will accelerate our various efforts such as the development of new digital fan experiences in sports and our virtual production initiatives.”
The latest funding round sees each of the two investors invest $1 billion respectively. This puts Epic Games’ valuation at nearly $31.5 billion.
“Epic Games is known for building playful and creative experiences and empowering creators large and small,” said Søren Thorup Sørensen, CEO, KIRKBI. “A proportion of our investments is focused on trends we believe will impact the future world that we and our children will live in. This investment will accelerate our engagement in the world of digital play, and we are pleased to be investing in Epic Games to support their continued growth journey, with a long-term focus toward the future metaverse.”
Lego partners with Epic Games for kids in the metaverse
Recently EPIC Games announced its collaboration with the Lego group to create a place for kids to play in the Metaverse. This partnership between Lego and Epic Games has a lot of synergy since Epic has expertise in not only building virtual worlds but also hosting events and parties in a virtual universe.
The two companies have agreed to three principles which will ensure the digital spaces they develop deliver engaging play opportunities safely:
- Protect children’s right to play by making safety and wellbeing a priority.
- Safeguard children’s privacy by putting their best interests first.
- Empower children and adults with tools that give them control over their digital experience.
Tencent acquired nearly a 40% stake in Epic Games in 2012 for $330 million. Thwat was long before Fortnite’s release which catapulted Epic Games into the big leagues. With the latest investment Sony raises its stake in Epic Games to $1.45 Billion & 4.6% Of Epic Games.
Epic recently released Unreal Engine 5, two years after it was first revealed. With
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