Pokémon Go creator raises $200 million ahead of Harry Potter game launch

Pokémon Go creator raises $200 million ahead of Harry Potter game launch

Pokémon Go creator Niantic has raised a new $200 million in funding, reports The Wall Street Journal. The Series B raise was led by Spark Capital, and includes participation from Founders Fund, Meritech, Javelin Venture Capital, You & Mr. Jones and NetEase, Inc. Spark partner Megan Quinn is also joining Niantic’s board as part of the new financing deal.

Niantic is known for its augmented reality games, which began with the multiplayer sci-fi spy game Ingress, created during the company’s time as an internal startup founded within Google. In 2015, Niantic spun out as its own entity, and it launched Pokémon Go in July, 2016. The Pokémon AR game managed to attract massive interest at launch, resulting in huge real-world gatherings of players thanks to its mechanic of incentivizing players to move around in the real world to achieve in-game success.

In its Series A round, Niantic raised $30 million in funding from an investor group including Alsop Loui Partners, Google, Nintendo, The Pokémon Company, Cyan and Scott Banister and others. Earlier this year, Niantic announced its first acquisition, of mobile social network developer Evertoon, and it also recently made official its intent to build a mobile AR game based on Harry Potter.

Harry Potter: Wizards Unite is due out sometime next year, and will be developed in partnership with Warner Bros. Interactive.

Source: Techcrunch.com


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