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Pokemon Go dev Niantic nets $300 million to create "real-world metaverse"

"This will take a significant investment of talent, technology and imagination."

Chris Kerr

November 23, 2021

1 Min Read

Niantic has received a $300 million investment at a valuation of $9 billion to realise its vision for the "real-world metaverse."

The Pokemon Go and Pikmin Bloom developer said it will use the cash to invest in its current titles, expand the Lightship developer platform, and continue building a future where "the real world is overlaid with digital creations, entertainment, and information."

"This will take a significant investment of talent, technology and imagination, and we’re thrilled that Coatue is on this journey with us," said Niantic CEO and founder, John Hanke.

Niantic's bid to build a real-world metaverse hasn't been without challenge. Earlier this year, the company promised more transparency and communication after players expressed concern over the removal of pandemic-accommodating changes in Pokemon Go.

The company also shuttered AR titles including Harry Potter: Wizards Unite and Catan: World Explorers, explaining the former had run its course while the latter presented too many design hurdles.

About the Author(s)

Chris Kerr

News Editor, GameDeveloper.com

Game Developer news editor Chris Kerr is an award-winning journalist and reporter with over a decade of experience in the game industry. His byline has appeared in notable print and digital publications including Edge, Stuff, Wireframe, International Business Times, and PocketGamer.biz. Throughout his career, Chris has covered major industry events including GDC, PAX Australia, Gamescom, Paris Games Week, and Develop Brighton. He has featured on the judging panel at The Develop Star Awards on multiple occasions and appeared on BBC Radio 5 Live to discuss breaking news.

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