Niantic, the popular augmented reality (AR) mobile game Pokemon Go developer, is planning to build a “real-world” metaverse with newly raised funding.
The company officially announced Monday the completion of a $300 million raise from the technology-focused investment manager Coatue, bringing the company’s valuation to $9 billion.
Coatue is known as a major investor in the cryptocurrency and blockchain industry, backing companies like blockchain intelligence firm Chainalysis, cryptocurrency startup Fireblocks, blockchain security firm CertiK and others. The firm has also recently participated in a $555 million funding round for cryptocurrency fintech startup MoonPay.
“Niantic is building a platform for AR based on a 3D map of the world that we believe will play a critical role in the next transition in computing,” Coatue’s general partner Matt Mazzeo said. “We are excited to partner with Niantic because we see this infrastructure supporting a metaverse for the real world…