Epic Games today announced a $2 billion funding round to advance the company’s vision to build Metaverse and support its continued growth. The companies announced today that Sony and The Lego Group have invested $2 billion in Epic Games with a new goal of creating virtual world content. Sony and The Lego Group’s new $2 billion investment in Epic Games comes shortly after Sony completed an initial $1 billion loan to Epic Games. Epic Games announced that existing investors Sony Group Corporation and KIRKBI (the holding and investment company behind The Lego Group) have each contributed $1 billion in a $2 billion funding round.
The investment is tied to another $1 billion from KIRKBI, the company behind LEGO, meaning Fortnite maker Epic Games has just secured $2 billion in funding from two big players. Its latest funding round includes investments from companies such as Sony Group and KIRKBI. According to the press release, both Sony and KIRKBI have invested $1 billion in their latest funding round bringing the company’s valuation to $32 billion.
Sony, the current investor, and Kirkbi, an investment company, have contributed $1 billion to help Epic Games move forward and support the growth of its metaverse. At the time, Epic Games was worth $28.7 billion, so in a year they added nearly four billion in value and received $1.2 billion in investment from existing investor Sony Group Corporation.
The new funding is being provided by KIRKBI, the family group that backs Epics partner The Lego Group, and Sony Group Inc, which is already an investor. KIRKBI, the holding, and investment company behind The Lego Group, also invested $1 billion in Epic Games in its latest funding round, aimed at accelerating the company’s ambitions in the virtual world. Epic has also just released Unreal Engine 5 which is considered a big milestone in the field of next-gen graphics and high fidelity world creation which will play a big role in the creation of metaverse.
Following Epic Games’ Metaverse partnership with LEGO Group, maker Unreal Engine announced last week that LEGO parent company KIRKBI and Sony have each invested $1 billion in Fortnite creators. This isn’t the first time Fortnite maker Epic Games has received funding from Sony, but the additional $1 billion is far more than the previous investment, even by the company’s multi-billion-dollar standards. Much of the more than $5 billion in funding came over the past five years when private company Epic Games built on the success of its Fortnite game and Unreal game development engine, which is used by entertainment companies around the world.
