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

Platform News: Epic Games, the maker of the Fortnite game

Spire Animation Studios has said it has raised $20 million in a funding round, which included an investment from Fortnite-maker Epic Games to collaborate and build metaverse experiences.

Spire said Epic’s three-dimensional creation tool Unreal Engine will integrate with the company’s feature animation pipeline to build into metaverse experiences, allowing it to move its existing character assets and worlds to the metaverse.

Metaverse is the latest buzzword in the technology space, with companies shifting focus and deals picking up pace in the segment as tech giants foresee it to be a major innovation and revenue generator.

In January this year, Microsoft announced a buyout of “Call of Duty” maker Activision Blizzard — marking the biggest acquisition in the gaming sector and boosting the industry’s bet on the metaverse.

Spire’s creative team includes former animators at Pixar Animation Studios and DreamWorks, both of which are owned by Walt Disney Co. The studio’s work is behind titles such as “Cars 2” and “The Simpsons.”

The proceeds raised from Epic and existing investor Connect Ventures will be set aside to expand the team, build new infrastructure and improve technology, Spire Animation said. Epic will also nominate members to Spire’s board.

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Founded by “Ratatouille” and “How To Train Your Dragon” producer Brad Lewis and entrepreneur P.J.Gunsagar, the company is currently producing “Trouble” and “Century Goddess.”

The team at Platform Executive hope you have enjoyed the ‘Epic Games invests in Spire Animation’s funding round, eyes metaverse‘ article. Automatic translation from English to a growing list of languages via Google AI Cloud Translation. Initial reporting via our official content partners at Thomson Reuters. Reporting by Akash Sriram in Bengaluru. Editing by Uttaresh.V.

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