Niantic, a startup which makes augmented reality-based games for mobile devices, has secured $190 million in a new Series C funding round, according to the documents filed with the SEC. The development comes just a month after the company was reported by WSJ to be in talks for raising $200 million funding round at a valuation of around $3.9 billion.
The documents related to this latest funding round reveals that 26 investors participated, however, their names have not been disclosed. The company had previously raised $200 million back in November 2017, led by Spark Capital. With the latest close, the company has raised over $415 million till date from investors like Founders Fund, Spark Capital and Alsop Louie Partners, among others.
The new capital infusion for Niantic comes at a time when the company is working on its next AR-based game titled ‘Harry Potter: Wizards Unite’ in a joint venture with Warner Bros. where players will be able to learn spells and explore neighborhoods to find and battle magical beasts and other enemies. While the game’s launch date is not yet known, it is expected to launch later this year.
Pokemon Go, released in July 2016, proved to be a major hit worldwide and became the top-grossing app on Apple’s U.S. App Store shortly after its release. A report published by Sensor Tower on Wednesday said that the game raked in nearly $800 million in revenue in 2018, a 35 percent increase from the previous year.