Epic Games has closed a $2 billion round of funding with participation from Sony and KIRKBI. The company will use the money to advance its vision to “build the metaverse and support its continued growth.”
Both Sony and KIRKBI, a holding company behind The LEGO Group, invested $1 billion respectively. Epic Games will continue to have only a single class of common stock and will remain in full control of its CEO Tim Sweeney.
According to Sony president and CEO Kenichiro Yoshida, Epic’s expertise 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.”
“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,” Sweeney said.
Sony has already invested a total of $1.45 billion in Epic Games, including $250 million in August 2020 and $200 million in April 2021.
The latest funding, which brings Epic’s valuation to $31.5 billion, comes in the wake of the recently announced partnership between the Fortnite maker and LEGO. Both companies are now working on a safe and immersive metaverse space for children.