Epic Games has announced one billion dollars in funding

With a $200 MIllion strategic investment from Sony, Epic Games has secured a total of one billion dollars from its latest round of funding. 

This immense round of funding is set to “allow the company to support future growth opportunities” whilst raising Epic’s valuation to a whopping $28.7 billion. 

The $200 million from Sony appears to be the biggest chunk of the investment, which Epic says strengthens their close relationship, and “reinforces their shared mission to advance the state of the art in technology, entertainment, and socially-connected online services.”

Other investors include “Appaloosa, Baillie Gifford, Fidelity Management & Research Company LLC, GIC, funds and accounts advised by T. Rowe Price Associates, Ontario Teachers’ Pension Plan Board, funds and accounts managed by BlackRock, Park West, KKR, AllianceBernstein, Altimeter, Franklin Templeton and Luxor Capital.“ the news post goes on to say. 

“We are grateful to our new and existing investors who support our vision for Epic and the Metaverse.” Tim Sweeney, Founder of Epic Games said. “Their investment will help accelerate our work around building connected social experiences in Fortnite, Rocket League and Fall Guys, while empowering game developers and creators with Unreal Engine, Epic Online Services and the Epic Games Store”

Kenichiro Yoshida the Chairman, President and CEO of the Sony Group Corporation said in the news post that “we are excited to strengthen our collaboration to bring new entertainment experiences to people around the world. I strongly believe that this aligns with our purpose to fill the world with emotion, through the power of creativity and technology,”