Coatue Leads $300M Series D Financing of Niantic
Gunderson Dettmer represented client Coatue as it led the $300 million Series D financing of Niantic, a San Francisco-based augmented reality platform that enhances the gaming experience. Earlier this month, Niantic unveiled its Lightship AR Developer Kit(ARDK), which makes tools to develop AR games publicly available to anyone who has a basic knowledge of the Unity game engine. The new capital will be used to expand ARDK’s capabilities to enhance the augmented reality experience.
In the announcement of the transaction, general partner of Coatue Matt Mazzeo said, “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. We are excited to partner with Niantic because we see this infrastructure supporting a metaverse for the real world and helping to power the next evolution of the internet.”
The Gunderson deal team was led by Greg Volkmar and included Jose Rivera, Kaitlin Zellner, Khalil Nobles, and Darien Pun.