HomeNewsPokemon Go Creator Niantic Receives Funding to build Metaverse

Pokemon Go Creator Niantic Receives Funding to build Metaverse

Pokemon Go creator Niantic has received funding for the initiation of their Metaverse. The Augmented Reality (AR) company behind the production of Pokemon Go was Niantic Inc. It has said to have raised $300 Million via the hedge fund at the value of $9 Billion, according to the company post.

Niantic is the company spin-off from Google in 2015 and is now led by John Hanke. John was a former Google Executive and now plans to expand its Lightship Platform. This would help the developers with AR creations to build the visionary “The Real World Metaverse”.

Niantic Stepping into Metaverse

Metaverse is the buzzword trending in the tech domain after Facebook changed its name to Meta. Niantic is also now getting on the act, Matt Mazzeo the general partner in Niantic spoke for the Company plans:

Niantic is currently building an AR-based platform on a 3-D world map. We believe it will play a critical role in the transition of the computing world.

In the year 2019, Niantic Inc was valued above $4 billion after they raised about $245 million in its Series C investments. Since then, the company has launched its own Niantic Ventures Fund. This will further partner up and invest with the companies focusing on AR technology.

Also, last month Niantic has launched the project Pikmin Bloom in collaboration with Nintendo Co. It is an AR-based application that allows users to see and explore plant-like creatures. It was just like when the company partnered up with Nintendo for Pokemon Go a few years back.

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