Niantic, a US-based augmented reality (AR) game developer spun out of internet and technology conglomerate Alphabet, received $190m in funding from undisclosed backers yesterday, according to a regulatory filing.
Participants in the round have not been named but reports last month suggested Niantic was looking to raise $200m from investors including consumer electronics producer Samsung and eSports group Axiomatic Gaming.
Venture capital firm Institutional Venture Partners was slated to lead the round at a valuation of $3.9bn, according to the same report.
Niantic was established in 2010 as an internal startup at Google, the internet technology provider since restructured into a subsidiary of umbrella company Alphabet, and was spun out in 2015. News of the funding comes alongside a $1bn round for another Alphabet spinoff, Verily.
The company develops massively multiplayer online games that exploit AR technology. Its most popular offering is Pokémon Go (pictured), which is based on the eponymous media franchise and lets users catch and train fictional animals with special powers.
Niantic has not revealed how it intends to spend the funding, but it is in the process of developing a title called Harry Potter: Wizards Unite in partnership with film studio Warner Bros that is set to be released later this year.
The company has raised $425m in funding to date. It attracted $200m in a series B round in late 2017 led by VC firm Spark Capital, with participation from internet company NetEase, brand services provider You & Mr Jones, Founders Fund, Meritech and Javelin Venture Capital.
Broadcaster Fuji Television, VC firm Alsop Louie Partners and assorted individual backers had previously injected $5m in funding into Niantic in 2016.
Google had joined game and toy producer Pokémon Company and game and console and game producer Nintendo in a $30m series A round for Niantic in 2015 that was made up of $20m committed upfront and an additional $10m in milestone payments.
– Image courtesy of Niantic, Inc.
