American video game developers Epic Games have announced a new round of funding involving Sony and LEGO’s parent company, KIRKBI.
The two companies have joined forces to invest $2 billion in Epic Games, which has developed popular titles like Fortnite and software like Unreal Engine 5, which launched earlier this week.
In a statement released by Epic Games, the company confirmed that it will have a single class of common stock outstanding and remains controlled by its CEO and founder, Tim Sweeney.
According to Sweeney, the company is looking forward to speed up the development of the metaverse, which is shaping up to be the big thing of the future.
This isn’t the first time Sony has invested huge into Epic Games. Last year, during a $1 billion investment round, Sony had invested around $200 million, along with a $250 million investment back in 2020. This year however, the stakes have risen massively, as the Japanese company have chipped in around $1 billion.
Along with that, KIRKBI, the family-owned holding and investment company behind The LEGO Group have also invested about a $1 billion too. Last week, the company had announced their collaboration with Epic Games to create a child friendly metaverse space, and with their recent investment, LEGO will be looking to strengthen its hold in the digital play world.
Following the closure of the latest round, the valuation of Epic Games has jumped to $31.5 billion, which makes it one of the most valuable video game developers in the world.