Pokemon GO developer Niantic has announced that they have received $20 million in funding for the upcoming mobile title.
Niantic announced that they have received $20 million in Series A funding from a number of investors that include The Pokemon Company, Nintendo, and Google. The investment is $20 million upfront, but the companies will provide an additional $10 million “upon achieving certain milestones,” the developer stated.
Niantic says that the money will go to the continued development of Pokemon GO, as well as to the AR title Ingress. The cash is also being used to “bring new games to the market.”
“The Pokemon Company, Google, and Nintendo are incredible investors and strategic partners to help build the next chapter for Niantic,” says Niantic CEO John Hanke. “We will be using this capital to continue the development of Pokemon GO, to evolve and grow Ingress and its thriving global community, and to build out our real-world gaming platform.”
Pokemon GO was announced in September. The game is being developed in collaboration with The Pokemon Company and Nintendo. Junichi Masuda, director of the Pokemon game series, is working on the game. GO is scheduled to release in 2016 on mobile devices, and will release with an optional watch-like device called the Pokemon GO Plus. The game sees players catching, training, and battling with Pokemon in the real world via location information on their mobile devices.