Epic Games announced it has raised $2 billion in a funding round led by Sony Group Corporation (NYSE:SONY) and private holding and investment company KIRKBI, each contributing $1 billion.
Fortnite owner Epic Games will use the funding to facilitate growth and support its vision to create a metaverse.
The new capital will help the company build innovative social entertainment that reinforces the relationship between the digital and physical worlds.
“As a creative entertainment company, we are thrilled to invest in Epic to deepen our relationship in the metaverse field, a space where creators and users share their time,” said Kenichiro Yoshida, Chairman, President, and CEO of Sony Group Corporation.
Yoshida said he expects the combination of Epic’s expertise and Sony’s technologies will advance the development of new digital experiences in sports and virtual production.
The latest funding takes Epic’s valuation to $31.5 billion.
Twelves months ago, Epic raised $1 billion at a valuation of $29 billion.
By Senad Karaahmetovic