Niantic Inc raises $300M, valued at $9 billion

In a blog post, Niantic Inc, the augmented reality (AR) platform behind Pokemon Go, said it has raised $300 million from hedge fund Coatue touching a valuation of $9 billion.

Niantic Inc, which was spun off from Alphabet Inc’s Google in 2015, is led by former Google executive John Hanke. It plans on using the funds to expand its recently launched Lightship platform to help developers with their AR creations and build their visions for “the Real-World Metaverse”.

“Niantic is building a platform for AR based on a 3D map of the world that we believe will play a critical role in the next transition in computing,” said Matt Mazzeo, a general partner at Coatue.

In early 2019, Niantic was valued at around $4 billion when it raised $245 million in its Series C funding round. Since then the company has launched its own fund, Niantic Ventures, which will invest and partner with companies focused on AR.

Last month, Niantic launched Pikmin Bloom with Nintendo Co Ltd, which is an AR-based smartphone app that enables users to see tiny, plant-like creatures. A few years ago, it partnered with Nintendo for Pokemon Go – the first game that saw a mass market adoption of AR.



Categories: Creativity, Economy & Finance, Entrepreneurship, HR & Organization, Strategy

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.

%d bloggers like this: