Gaming startup Niantic Labs, which initially started within Google in 2010 and then went out its own to function as a separate company, is reportedly raising close to $200 Million, at a massive $3.9 Bn valuation. The news has come in from WSJ, sans any confirmation from Niantic. Needless to say, the company is behind wildly popular Augmented reality title, Pokemon GO.
The $200 million funding round is expected to be led by venture-capital firm IVP, with participation from strategic investors Samsung Electronics Co. and aXiomatic Gaming LLC, according to the report. Clubbing in this rumoured round to the total, Niantic would have raised close to $425 Million in totality for its AR-powered gaming push.
In all certainty, the company will be using this capital refuel for developing its much awaited, Harry Potter AR title, termed ‘Wizards Unite’. The game will follow up on the cult the movie and book franchise have created, helping fans realise the realities of a wizardry world.
The Harry Potter game will also be important for Niantic to change perceptions. Major runaway successes like Pokemon GO and other similar breakout-success titles from different developers have largely been seen as more of a fluke, than a proper commercial success. Wizards Unite, which is sure to be a wildly successful title, will surely be the one for Niantic to change those perceptions.
Firoz joins The Tech Portal to report on all stuff that relates to developers and their community. He is actively involved in multiple startups, helping them build and develop modern web products.