Fortnite-maker: Epic Games raises $2B at a nearly valuation of $32B to build its kid-friendly metaverse
- ByStartupStory | April 12, 2022
Epic Games, Fortnite-maker, today announced that it has raised $2 billion in funding from the parent company of the Lego Group, Sony and Kirkbi, with both companies investing $1 billion each. Epic gets a money equity valuation of $31.5 billion from this latest funding round. Epic says in order to build its kid-friendly metaverse and will also support its continued growth the new funding will go toward its efforts.
A few days after Epic revealed that it’s partnering with Lego to build a metaverse aimed at kids, this announcement came in. The companies said that in order to make it safe and fun for children while building an immersive digital experience for kids to play in, they are going to shape the future of the metaverse.
Epic says all three companies have aimed to create new social entertainment that explores the connection between digital and physical worlds, with this new funding.
Epic raised $1 billion in April 2021, prior to this funding round, featuring a $200 million Sony Group Corporation investment. Other investors included Appaloosa, Baillie Gifford, T. Rowe Price Associates-managed accounts, Fidelity Management & Research Company LLC, GIC, Ontario Teachers’ Pension Plan Board, Altimeter, Franklin Templeton BlackRock managed accounts, Park West, KKR, AllianceBernstein, and Luxor Capital.
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