Pokemon Go developer Niantic nets $200M in funding

Pokemon Go developer Niantic has reportedly secured $200 million from a Series B funding round led by Spark Capital. 

According to the Wall Street Journal, the cash will be used to make "long-term investments" in augmented reality. 

The news comes just a few weeks after Niantic confirmed its next major project will be an AR mobile title based on the Harry Potter franchise.

Much like Pokemon Go, which implored players to scour the outdoors in search of pocket monsters, Harry Potter: Wizards Unite will allow players to go on adventures in the real world.

Niantic says the title will employ state of the art AR mobile technology, and will let players cast spells, discover artifacts, and encounter legendary beasts and iconic characters.