"Pokemon GO" is getting tons of support as it was reported that its developer Niantic raised $20 million in Series A funding from a handful of investors, including the Pokemon Company, Google and Nintendo.
According to a report by Game Spot, the initial investment was $20 million in upfront money, but the said companies will give out $10 million more.
Niantic said in a statement that "upon achieving certain milestones," the company will now use the cash for the continued development on the ambitious game, as well as to support the augmented reality game, "Ingress." In addition, the funds received from investors will also be used to bring new games in the market.
Speaking of the investors, Niantic said, "The Pokemon Company, Google, and Nintendo are incredible investors and strategic partners to help build the next chapter for Niantic."
"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."
Tech Radar noted that with Nintendo fully showing its support for Niantic, it just proves that the Japanese video game company thinks that augmented reality or AR will play a significant role in the future of gaming. In addition, there are now speculations that some of its titles may also receive the augmented reality treatment.
As for the Pokemon Company, Tech Crunch reported that president and CEO Tsunekazu Ishihara said, "Pokémon's strategic investment in Niantic paves the way for a social mobile experience the world has never seen before."
Ishihara added, "The Pokémon Company is committed to partnering with companies like Niantic that share the same spirit of community and innovation."
"Pokemon GO" is Niantic's most recently announced game and is due to launch in 2016 for iOS and Android devices. The game will be available for free, and it will support in-app purchases.
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