Google, Nintendo and The Pokémon Company invest $20 million in Niantic Labs, developer of Pokémon GO

The former Google startup company announced today Google, Nintendo and The Pokémon Company are investing $20 million upfront in Niantic Labs, the developer of Pokémon GO, and an additional $10 million if specific conditions are met.

With the support of well-known companies in entertainment and tech, Niantic will use this capital “to continue the development of Pokémon GO, to evolve and grow Ingress and its thriving global community, and to build out our real-world gaming platform,” said John Hanke, Founder and CEO at Niantic.

Hanke shared some interesting statements from both Google and The Pokémon Company:

Tsunekazu Ishihara, CEO, The Pokémon Company:
“Pokémon’s strategic investment in Niantic paves the way for a social mobile experience the world has never seen before,” said Tsunekazu Ishihara, president and CEO of The Pokémon Company. “The Pokémon Company is committed to partnering with companies like Niantic that share the same spirit of community and innovation.”

Don Harrison, VP of Corporate Development, Google:
“Niantic has shown the great potential of mixing geolocation technology, dynamic storytelling, and innovative game design, and we’re excited to continue supporting the team on their journey.”

As the startup company prepares its satellites offices and continues its work on the game, the future of Niantic and Pokémon GO looks bright.

[Source]: Niantic: Niantic Inc. Raises $20 Million in Financing from The Pokémon Company, Google and Nintendo.