Lord of the Rings Online developer Turbine has picked up US$40m in a third round of venture capital funding, according to an online report by Private Equity Hub.

This cash injection brings Turbine's venture financing total to US$88m.

Granite Global Ventures is said to have led the financing, which also raised capital from previous MMO investors. Westwood-based Turbine, who also make Asheron's Call and Dungeons and Dragons Online, have stated they plan to make an announcement regarding their future plans within two weeks.

Turbine's website includes employment listings for console-game positions, fuelling speculation that Turbine could be expanding from the online market to the console player market. It remains unclear whether or not Turbine will be adding a console focus to its offerings.