The round valued Epic Games at $31.5 billion, post-money.

Epic Games, the creator of Fortnite, announced it had raised $1 billion each from existing investor Sony Group Corporation as well as KIRKBI, the family-owned holding and investment company behind The LEGO Group. The funding, intended to advance Epic’s vision to build the metaverse and fuel its growth, valued Epic at $31.5 billion. (Epic Games)

Metaverse partnership

Last week, Epic Games and Lego announced a new partnership to create a metaverse, or a virtual family-friendly space, primarily aimed at kids. The two companies said they would combine their extensive experience to ensure that this next iteration of the internet is designed from the outset with the wellbeing of kids in mind.

“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, Sony Group Corporation.

“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,” said Søren Thorup Sørensen, CEO, KIRKBI.

“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,” said Tim Sweeney, CEO and Founder, Epic Games.

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Image Credit: Epic Games