Connect with us

Hi, what are you looking for?

Bytes

Epic Games Raises $2 Billion from Investment Round

Industry giant goes from strength to strength

Epic Games, the famous game developers and publisher best known for its acclaimed battle royale game Fortnite has announced a $2 billion (£1.5 billion) round of financing that involves both Sony Group Corporation and KIRKBI.

Epic said that the massive financial injection will be used to support the company’s growth as well as advance its visions in building the metaverse.

Chairman, President and CEO of Sony Group Corporation, Kenichiro Yoshida stated: “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 investment round included funding from not only Sony Group Corporation and KIRKBI but also from technology conglomerate. Both Sony and KIRKBI, the investment company behind the LEGO Group, invested $1 billion each.

“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.”

“As we reimagine the future of entertainment and play we need partners who share our vision. We have found this in our partnership with Sony and KIRKBI,” said Tim Sweeney, CEO and Founder, Epic Games. “This investment will accelerate our work to build the metaverse and create spaces where players can have fun with friends, brands can build creative and immersive experiences and creators can build a community and thrive.”

Epic is the latest gaming and eSports company to join the race to build the metaverse as it continues to gain more traction in the world of eSports.

Written By

Isa Muhammad is a writer and video game journalist covering many aspects of entertainment media including the film industry. He enjoys reading philosophy, autobiographies and staying informed. If he's not reading, playing video games or catching up on his favourite TV series, then he's probably writing about them.

You May Also Like

Level Up

Eager to be at the metaverse frontier, but not sure how to get started? As exciting as the idea of a shared digital space...

Bytes

New blockchain gaming platform based on Unreal Engine 5.

Bytes

The record for the most expensive land sale in the metaverse has just been raised

State of Play

What do we mean by the metaverse? Our vision of shared, real-time, persistent, virtual worlds has been shaped by popular culture, from Neal Stephenson’s...

Advertisement
Advertisement

Subscribe to the future

Advertisement