HomeBusinessEpic Games invests in Spire Animation's funding round, eyes metaverse boom

Epic Games invests in Spire Animation’s funding round, eyes metaverse boom

Los Angeles-based Spire Animation Studios mentioned on Tuesday it raised $20 million in a funding spherical, which included an funding from Fortnite-maker Epic Games to collaborate and construct metaverse experiences.

Spire mentioned Epic’s three-dimensional creation device Unreal Engine will combine with the corporate’s characteristic animation pipeline to construct into metaverse experiences, permitting it to maneuver its current character property and worlds to the metaverse.

Metaverse is the newest buzzword in the know-how house, with firms shifting focus and offers selecting up tempo in the phase as tech giants foresee it to be a significant innovation and income generator.

In January this yr, Microsoft introduced a buyout of “Call of Duty” maker Activision Blizzard — marking the largest acquisition in the gaming sector and boosting the business’s guess on the metaverse.

The proceeds raised from Epic and current investor Connect Ventures will probably be put aside to develop the group, construct new infrastructure and enhance know-how, Spire Animation mentioned.

Founded by “Ratatouille” and “How To Train Your Dragon” producer Brad Lewis, the corporate is presently producing “Trouble” and “Century Goddess.”

(Reporting by Akash Sriram in Bengaluru; enhancing by Uttaresh.V)

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