Pokemon Go, Harry Potter Dev Raises $200 Million - Report
The money will go towards further investment in the field of AR.
Niantic Labs, the developer behind the augmented reality game Pokemon Go and the newly announced Harry Potter: Wizards Unite, has just raised a lot of money. The Wall Street Journal is reporting that the independent developer just completed a Series B round of venture capital funding amounting to $200 million. They money is apparently going towards helping Niantic further invest in the field of augmented reality.
Investment firm Spark Capital led the round of funding with an unspecified amount; others that put money in include Founders Fund, Meritech, Javelin Venture Captial, You & Mr. Jones, and the gaming company NetEase.
Spark Capital general partner Megan Quinn will join Niantic's Board of Directors as part of her company's investment. She wrote on Twitter, "We believe [Niantic CEO John Hanke] & the team are building an incredibly important company at the intersection of AR and real world location."
Once owned by Google, Niantic Labs is now an independent studio. They worked with The Pokemon Company on the massively successful Pokemon Go, and the team is now collaborating with Warner Bros. on Harry Potter: Wizards Unite. Like Pokemon Go, Wizards Unite will send players into the real world to complete tasks and objectives. The game is due out in 2018, though no other details about it are available at this time.
The new round of funding for Niantic suggests that launching and supporting Wizards Unite (in addition to Pokemon Go) may not be all that the company has in store in the AR market. According to GI.biz, Hanke said in an email that the new funding will open up the opportunity for "new strategic opportunities," including "long-term investments" in AR.
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