The Pokemon Company, Google and Nintendo will invest up to $30 million in Niantic, maker of the popular augmented reality gaming app Ingress.
This includes an initial $20 million upfront and an additional $10 million if the company achieves “certain milestones”.
“Pokemon’s strategic investment in Niantic paves the way for a social mobile experience the world has never seen before,” proclaimed Tsunekazu Ishihara, president and CEO of The Pokemon Company.
Last month, Niantic announced that it would be creating a new mobile game called Pokemon GO with The Pokemon Company and Nintendo.
“We are incredibly excited about the opportunity to create a product true to the spirit of the original Pokemon games while extending gameplay out into the real world. Because it is a mobile game, players all around the world will be able to immerse themselves in the Pokemon universe on devices they already have in their hands,” wrote CEO and founder John Hanke in a blog post.
The capital will be used to prepare the game for launch next year, “evolve and grow Ingress and its thriving global community” including “a series of massive, global events this fall”, and to “build out our real-world gaming platform,” he added.
In August, Niantic spun out from Google to become an independent company.