Unity is said to be Raising Money at $1.5 Billion Valuation

Unity Technologies is said to raise a round of investment that could value the company at $1.5 billion. Software developer’ fundraising could provide additional resources and bring even more possibilities for VR development.

Unity Technologies is a company behind the most popular game engine, about 4 million developers have registered for Unity accounts, and 30 percent of the top 1,000 grossing mobile games are stated to be made using Unity.

 2015 was a big year, and 2016 will be an even bigger year.

John Riccitiello, CEO of Unity

Released and upcoming devices for VR bring new possibilities for Unity to evolve. For example, 16 of 30 games available at Oculus Rift’s marketplace were built with Unity. HTC and Sony are also interested in Unity, so, more VR games for Vive and PlayStation VR are coming with Unity on board. What is more, Unity is said to be the major part of Microsoft’s HoloLens development, which began shipping to developers on Wednesday.

Unity’s engine is also popular with the low-cost devices that allow people to strap their smartphones to their faces for VR. More than 90 percent of the games made for Gear VR, have been built on Unity, according to Oculus co-founder Palmer Luckey.

Source: bloomberg