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Niantic is spinning off its geospatial AI enterprise into a brand new firm referred to as Niantic Spatial, following a deal to promote its video games enterprise to Scopely for $3.5 billion.
Parting methods from Pokémon Go, Monster Hunter Now and Pikmin Bloom – along with their related groups – the brand new firm goals to construct AI-powered tech that helps individuals higher perceive, navigate and have interaction with the bodily world.
This purpose might be powered by $250 million in funding, with $200m coming from Niantic’s steadiness sheet and the remaining $50m from Scopely.
Niantic Spatial is to be led by present Niantic CEO John Hanke. All unique buyers will proceed to be shareholders within the new firm.
Spatial spinoff
Niantic’s AI and XR suite Spatial first launched final yr. Moderately than video games particularly, the platform gives instruments and companies designed for varied industries like development and tourism.
The corporate isn’t utterly abandoning video games following the Scopely deal, nonetheless, as it’ll maintain possession of Ingress Prime and Peridot.
“We’re within the midst of seismic adjustments in know-how, with AI evolving quickly,” Hanke posted on LinkedIn.
“Current maps had been constructed for individuals to learn and navigate however now there’s a want for a brand new sort of map that makes the world intelligible for machines, for the whole lot from good glasses to humanoid robots, to allow them to perceive and navigate the bodily world.
“Niantic is constructing the fashions that can assist AI transfer past the display screen and into the actual world. With $250m in funding, a few of the world’s greatest geospatial AI expertise, entry to proprietary information, a robust buyer pipeline and a speedy product cycle, I consider Niantic Spatial is poised to succeed and, just like the video games that gave delivery to it, to make its personal constructive impression on the world.”
