Pokémon Go creator Niantic has closed a $ 190 million funding round, according to a document filed with the Securities and Exchange Commission.
The only thing that confirms that Niantic is getting money just at a time when it doesn't need it. Niantic declined comment, but filing comes after a Wall Street Journal report last year, saying the company closed $ 200 million from investors, including IVP, aXiomatic Gaming and Samsung, worth $ 3.9 billion.
The round closed on December 20, according to the new documents. Niantic has now raised more than $ 415 million to date. The filing said there are 26 investors in the round. Other investors include The Pokemon Company, Google, Founders Fund, Spark Capital and Alsop Louie Partners. It's an old opportunity among startups that the best time to raise money is when you don't need it; You get the best terms that way, and can stock money in a rainy day.
Earlier today, the sensing company Sensor Tower gave Pokémon Go nearly $ 800 million in world sales in 201
That raises the question. Why would a company need a round it doesn't seem to need? The answer: Niantic's ambitions are greater than they work. John Hanke, CEO of San Francisco-based Niantic, had a greater intention to start Niantic, where the first game was the placement-based title Ingress. It was meant to get people from the couch and out of their home and visit local landmarks, such as parks or statues. It helped generate a great interest in going outside; at level 30 I have collected 2.3 million XP and went countless miles.
Niantic recently said it wants to replicate the technology behind the original Pokémon Go video, which contained seamless integration of an animated creature with the real world. The way to do this is with magnified reality, which is possible on modern smartphones. But Niantic joined other companies in investing in DigiLens, a holographic waveguide, because it will make AR glasses.
The venture is ambitious and it will not be cheap. It is not clear whether Niantic only wants to create software for AR glasses or whether it wants to make the AR glasses themselves. The more money it travels, the more it will be able to make its own AR glasses.