Palmer Luckey’s retro gaming startup ModRetro reportedly seeks funding at $1B valuation

In Brief

ModRetro, the vintage gaming startup by Palmer Luckey, is successful talks to rise backing astatine a $1 cardinal valuation, according to the Financial Times.

The institution launched its archetypal product, a Game Boy-style handheld instrumentality called the Chromatic, successful 2024. The Verge’s Sean Hollister said it “might beryllium the champion mentation of the Game Boy ever made,” but recovered it hard to abstracted from Luckey’s estimation arsenic laminitis of defence tech startup Anduril Industries.

“If Lockheed Martin made a Game Boy, would you bargain one?” Hollister asked.

Luckey said past year that he’d been trying to physique a Game Boy-inspired instrumentality “off and connected arsenic a hobby for astir seventeen years now” and described the Chromatic arsenic the effect of “hundreds of irrational decisions”  that made it “an uncompromisingly authentic solemnisation of everything that made the console special.”

The FT reports that ModRetro is moving connected different devices, including 1 designed to replicate the Nintendo 64.

Meanwhile, the Trump medication appears to person embraced Luckey’s imaginativeness for autonomous weapons, with Anduril reportedly successful talks to rise a caller backing circular astatine a $60 cardinal valuation.

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