Epic Games raises $2B in funding from Sony and Kirkbi

Epic Games announced a $2 billion round of funding, which it would put towards its growth and that of the metaverse. The round included investments from Sony, as well as Kirkbi, the investment company behind the Lego Group. Both companies invested $1 billion.

Epic’s post-money equity valuation is $31.5 billion, according to the company. CEO Tim Sweeney says this investment will go towards expanding the company’s vision of the metaverse: “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.”

Søren Thorup Sørensen, CEO of Kirkbi, added, “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.”

Kenichiro Yoshida, president and CEO of Sony, said in a statement, “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. 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.”