ModRetro, the vintage gaming startup founded by Palmer Luckey, is in talks to raise funding at a $1 billion valuation, according to the Financial Times.
ModRetro launched its first product, the Chromatic, a Game Boy-style handheld device, in 2024. The device received positive reviews, with The Verge's Sean Hollister saying it "might be the best version of the Game Boy ever made."
Luckey, also the founder of defense tech startup Anduril Industries, has been working on a Game Boy-inspired device as a hobby for almost 17 years. He described the Chromatic as an "uncompromisingly authentic celebration" of the original console.
The Funding Round
The funding round, reported by the Financial Times, values ModRetro at $1 billion. The company is working on other devices, including one designed to replicate the Nintendo 64.
ModRetro's funding round comes as Anduril Industries, Luckey's other company, is also reportedly in talks to raise a new funding round at a $60 billion valuation.
Company Background
Palmer Luckey, the founder of ModRetro and Anduril Industries, has a history of innovation in the tech industry. His work on autonomous weapons has been embraced by the Trump administration, according to reports.
ModRetro's focus on retro gaming has resonated with fans of classic consoles. The company's attention to detail and commitment to authenticity have set it apart in the industry.
What's Next
As ModRetro seeks funding at a $1 billion valuation, the company is poised for further growth and expansion. With its focus on retro gaming and commitment to innovation, ModRetro is an exciting player in the tech industry.
