Epic Games has announced that it raised $2 billion in a funding round. The funds came from two investors, Sony Group Corporation and Kirkbi, the company behind the LEGO franchise. Each of these companies made a contribution of $1 billion.
Chairman, President, and CEO of Sony Group Corporation, Kenichiro Yoshida informed that as a creative entertainment company, Sony is thrilled to invest in Epic to deepen their relationship in the metaverse field which is a space where creators and users share their time.
He said that he is confident that Epic’s expertise, including their powerful game engine, combined with Sony’s technologies will accelerate their various efforts such as the development of new digital fan experiences in sports and their virtual production initiatives.
According to an announcement made by Epic, this $2 billion investment will go towards advancing the company’s vision to build the metaverse and support its continued growth.
Epic also informed that the company continues to have only a single class of common stock outstanding, and the person controlling it is still its CEO and founder, Tim Sweeney.
Tim Sweeney, the CEO, and founder of Epic Games commented on the situation by saying that as we reimagine the future of entertainment and play we need partners who share our vision. According to him, Epic found these partnerships with Sony and Kirkbi.
He continued by saying that this investment will accelerate the company’s work to build the metaverse and create spaces where players can have fun with friends, brands can make creative and immersive experiences and creators can build a community and thrive.
Last week, a long-term collaboration between LEGO and Epic was announced with the aim of developing a children-focused metaverse.