Unity Is Worth Almost $2 Billion Thanks To China

Unity Is Worth Almost $2 Billion Thanks To China

The makers of the Unity engine, one of the most popular tools for gaming developers, has just raised a sizeable chunk of money. And the end result: the company is now worth almost $2 billion.

Chances are you’ve played a game on the Unity engine before. On mobiles, it’s the most popular engine for some of the platform’s biggest games — like Pokemon GO and Hearthstone. But the company is focusing more on the growing space in augmented and virtual reality, and that was the point behind the fundraising round to begin with.

John Riccitiello, chief executive of Unity Technologies, told Bloomberg that AR and VR “will one day swallow the internet”. It’s a pretty bold claim, but the amount of money Unity raised goes some way to validating their belief. The company pulled in just over $237 million ($US181 million) in funding from the latest round, which values the company at a touch over $1.96 billion.

What’s also interesting is the names that invested in Unity. They include China’s sovereign wealth fund, the China Investment Corporation, and DFJ Growth, a venture capital firm that also invested in Tumblr, Twitter and Tesla.