According to the Financial Times, ModRetro - a classic game company founded by technology entrepreneur Palmer Luckey, is in the process of negotiating to raise capital. The company focuses on developing gaming devices inspired by classic consoles.
In 2024, ModRetro launched its first product called Chromatic, a handheld game console with a design reminiscent of the Game Boy. According to journalist Sean Hollister from The Verge, this device can be considered one of the best Game Boy versions ever produced.
However, the product also attracted attention because of its founder Palmer Luckey. He is widely known for his role as the founder of Anduril Industries - a defense technology company in the US. The combination of the retro game field and the defense technology platform makes Chromatic a controversial product.
Sharing earlier, Palmer Luckey said that the idea of making a device inspired by the Game Boy has been pursued by him as a hobby for nearly 17 years. He described Chromatic as the result of hundreds of design decisions to fully recreate the spirit of the classic game console line.
Meanwhile, Anduril Industries - a defense company founded by Luckey, is also said to be negotiating a new round of capital mobilization with a valuation of about 60 billion USD.
