US-based augmented reality (AR) mobile game developer Niantic is in the process of raising $200m in funding from investors including consumer electronics maker Samsung, the Wall Street Journal reported yesterday.
The round is expected to also feature eSports group Axiomatic Gaming, and venture capital firm Institutional Venture Partners as lead investor. It will value Niantic at $3.9bn, people familiar with the matter told the WSJ.
Niantic was formed in 2010 as an internal startup at internet technology provider Google before being spun off five years later. It has created several massively multiplayer online games that rely on AR technology, most prominently Pokémon Go, which had grossed more than $2bn as of September this year.
The company received $200m in a November 2017 series B round led by VC firm Spark Capital that included internet company NetEase, brand services provider You & Mr Jones, Founders Fund, Meritech and Javelin Venture Capital.
Google, gaming company Nintendo and game and toy producer Pokémon Company contributed to a $30m series A round for Niantic in 2015 that consisted of a $20m upfront investment and an additional $10m in milestone payments.
The series A was followed by $5m of funding supplied by broadcaster Fuji Television, VC firm Alsop Louie Partners and various angel investors the following year.
