Epic Games–the developer of Fortnite, owner of the Unreal Engine, and operator of the Epic Games Store–has announced it has raised $1 billion more in funding. This includes $200 million more from Sony Group Corporation, adding on to the $250 million it invested into the company back in 2020. This announcement came on the same day that Sony announced that one of its characters, Aloy from the Horizon series, would come to Fortnite soon.
In a statement, Epic said it’s using the additional $1 billion in funding to “support future growth opportunities” and help the company create the so-called “Metaverse.” With the new round of funding, Epic said its equity valuation now stands at $28.7 billion.
For Sony specifically, Epic said the new funding of $200 million “reinforces their shared mission to advance the state of the art in technology, entertainment, and socially-connected online services.”
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