Pokémon GO parent Niantic raises ₹1,330 crores from Samsung, others

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Mobile AR gaming startup Niantic, who created the world-famous Pokémon GO has raised ₹1,330 crores ($190 million) in fresh funding round, according to newly filed SEC documents. The announcement comes after Wall Street Journal last month reported that the company was in talks to raise ₹1,400 crores ($200 million) from IVP, Samsung and aXiomatic Gaming.

The startup has finally closed the deal at a $3.9 billion valuation. With the latest development, the Niantic has raised around $415 million in all funding rounds including the current one. Investors like Founders Fund, Spark Capital and Alsop Louie Partners have earlier invested in the startup. This particular funding round was led by 26 investors.

After the huge success of Pokémon GO, Niantic is looking forward to releasing its next major title Harry Potter: Wizards Unite. The game is powered by machine learning, artificial intelligence and uses augmented reality to deliver the best experience. However, the company has not yet announced the date of release, but it is expected to launch this year.

The company was founded as a startup within Google in 2010 and was spun out as its own entity in 2015, releasing its hit title Pokémon GO the next year.

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SW Staffhttps://startupwonders.com/guestpost
Startup Wonders provide startup resources, stories and news to help budding entrepreneurs grow and succeed in their business career.

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