Pokemon GO developer Niantic may be one of the hottest in the mobile space right now, but the company is still on the rise. This week, the company raised $200 million in order to help it fund future projects, which could mean exciting things for fans of its games.

Venture capital firm Spark Capital led the latest round of financing for Niantic, raising $200 million in the process. As part of the deal, Spark Capital partner Megan Quinn, who previously worked with Niantic CEO John Hanke at Google, will join the developer's board.

In a statement about the deal, Hanke says that the company is "excited to be working with NetEase, Spark, and our other new investors." The executive also explains that the deal will allow Niantic to pursue "new strategic opportunities and enhances our ability to make long-term investments in augmented reality and the Niantic real-world platform."

One of these new strategic opportunities currently in development at Niantic is the Harry Potter augmented reality game, Harry Potter: Wizards Unite. Set to feature iconic characters from the fantasy wizarding world created by J.K. Rowling, the game should let players live out their fantasies of wielding magic. Like Pokemon GO, the game will also get people out and about, exploring their communities and making new friends.

And, speaking of Pokemon GO, this new round of funding should also benefit players of the hit mobile spin-off. Niantic already has some exciting new features planned for the game, including the hotly anticipated player versus player (PvP) battles and Pokemon trading. Niantic CEO John Hanke has also confirmed that the game will be introducing new social features next year as well.

However Niantic ends up using the funding, though, fans should be excited. With the recent purchase of social developer Evertoon, it's clear that Niantic is a developer on the move. Fans of Niantic and its AR games should watch this space to see what the developer does next.

Source: The Wall Street Journal