Epic Video games introduced it’s doubled the amount of money it raised final 12 months to kick off its metaverse ambitions. Now the corporate, which owns Unreal Engine and fashionable battle royale shooter Fornite, says it’s secured $2 billion to additional construct out its future metaverse platforms.
Almost a 12 months after its beautiful $1 billion increase, Epic has secured twin $1 billion investments from Sony Group Company and KIRKBI, the holding and funding firm behind The LEGO Group.
Sony has change into considerably of a serial investor in Epic. In 2020 Sony invested $250 million in Epic with the objective of making “real-time 3D social experiences resulting in a convergence of gaming, movie, and music. That’s earlier than the ‘metaverse’ buzzword erupted, however it’s clear the place Sony was headed.
Now KIRKBI, the non-public holding and funding firm based by former president and CEO of The LEGO Group, Kirk Kristiansen, is seeking to bounce into the quickly increasing metaverse pattern.
“Epic Video games is understood for constructing playful and inventive experiences and empowering creators massive and small,” mentioned Søren Thorup Sørensen, CEO, KIRKBI. “A proportion of our investments is concentrated on tendencies we imagine will impression the long run world that we and our kids will dwell in. This funding will speed up our engagement on the planet of digital play, and we’re happy to be investing in Epic Video games to assist their continued development journey, with a long-term focus towards the long run metaverse.”
Tim Sweeney, CEO and founding father of Epic, says the funding will “speed up our work to construct the metaverse and create areas the place gamers can have enjoyable with buddies, manufacturers can construct inventive and immersive experiences and creators can construct a group and thrive.”
Epic says it would proceed to have a single class of widespread inventory, and stays managed by its CEO and founder, Tim Sweeney. This brings Epic’s post-money fairness valuation to $31.5 billion.
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