Epic Games, creator of the famous ‘Fortnite’ game, has announced that it has raised $1 billion in a new funding round which also saw an investment of $200 million from Sony. This isn’t the first investment of Sony in Epic Games as the Japanese company had invested $250 million last year.
The gaming company reveals that with this new round of funding, it is now valued at $28.7 billion. The capital will be used by the company to build social experiences into Epic’s popular Fortnite and Rocket League games.
The latest funding comes as Epic Games and Apple are fighting a legal battle following the gaming company’s effort to avoid paying a 30 percent App Store fee as it launched its own in-app payment system. After that move, Apple banned Fortnite from its App Store and is also trying to defend antitrust allegations.
Epic Games has accused Apple of trapping people in its mobile device world and collecting “outsized commission” on the App Store that serves as the only source of digital content. On the other hand, Apple is countering that it has no monopoly when it comes to digital games. It remains to be seen which company wins this battle.
The company has launched its free-to-play battle-royal video game ‘Fortnite’ in 2017 and since then the game has seen a huge following among young gamers. It has more than 160 million users on its PC store. Prior to this funding round, the company had raised $3.4 billion, including a $1.78 billion round last August.
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