On Wednesday, Pokemon Go creator Niantic said that it has raised Rs. 1700 crores ($245 million) in a new round of financing, brought its valuation to around $4 billion (Rs. 28000 crores).
The financing round of Series C was led by IVP with additional strategic investment from aXiomatic Gaming, Causeway Media Partners, Battery Ventures, Samsung Ventures, CRV, said the company.
In November, Niantic and Warner Bros Interactive Entertainment announced that they would unveil a new “Harry Potter” augmented reality mobile game.
The latest game would use real-life locations same to Niantic and Nintendo Co’s Pokemon Go. It is the first mass-market adoption of augmented reality in July 2016 and permitted players to ‘catch’ animated characters, which appeared in their surroundings.
IVP’s Sandy Miller said that it’s a rare option to partner up with a company, which already makes a high profit at this stage and it is another reason the company is so hopeful on Niantic.
In 2015, Niantic was spun off from Google and is headed by longtime Google executive John Hanke.