The funds will be used to create and develop the metaverse

​The Niantic company has raised $300 million in funding

24.11.2021 - 07:55

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1 min

What’s new? The Niantic Labs startup, the developer of the popular Pokemon Go game, has announced the successful completion of a funding round. A total of $300 million was raised from Coatue Management. The company's valuation currently stands at $9 billion.

News source on the Niantic Labs website

What will the funds be used for? The representatives of the startup reported that they are currently working on technologies that will be used in a “real world metaverse.” Some of the funds will go to the development of current gaming projects, including the expansion of a developer platform called Lightship.

“Niantic is building an augmented reality platform based on a 3D map of the world that we believe will play a critical role in the next transition in computing,” said Matt Mazzeo, a General Partner at Coatue Management.

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