ModRetro: Vintage Gaming Startup by Palmer Luckey in Talks for $1 Billion Valuation
According to a report by the Financial Times, ModRetro, the vintage gaming startup founded by Palmer Luckey, is currently in discussions to raise funding at a valuation of $1 billion.
The company made its debut in 2024 with the launch of its first product, the Chromatic, a handheld device inspired by the Game Boy. The Verge’s Sean Hollister praised the Chromatic, stating that it “might be the best version of the Game Boy ever made.” However, he also noted the challenge of dissociating the product from Luckey’s background as the founder of defense tech startup Anduril Industries.
“If Lockheed Martin made a Game Boy, would you buy one?” Hollister pondered.
Last year, Luckey revealed that he had been working on a Game Boy-inspired device as a hobby for nearly seventeen years. He described the Chromatic as the culmination of “hundreds of irrational decisions” that resulted in “an uncompromisingly authentic celebration of everything that made the console special.”
The Financial Times also mentioned that ModRetro is currently developing other devices, including one that aims to replicate the Nintendo 64 experience.
On a separate note, the Trump administration seems to be aligning with Luckey’s vision for autonomous weapons, as Anduril Industries is reportedly in discussions to secure a new round of funding at a valuation of $60 billion.
