ModRetro Seeks $1 Billion Valuation for Vintage Gaming Venture

ModRetro, a vintage gaming startup founded by Palmer Luckey, is reportedly in discussions to raise funding at a $1 billion valuation, according to the Financial Times.

Product Development

The company released its initial product, the Chromatic, a handheld device styled after the classic Game Boy, in 2024. The Chromatic has already garnered significant praise for its design and functionality.

Sean Hollister of The Verge described the Chromatic as potentially "the best version of the Game Boy ever made."

However, Hollister also noted a challenge in separating the device from Luckey's prominent public profile as the founder of Anduril Industries, a defense technology company. He posed a pointed question, asking, "If Lockheed Martin made a Game Boy, would you buy one?"

Luckey has previously stated that he had been working on a Game Boy-inspired device as a hobby for nearly seventeen years. He characterized the Chromatic as the outcome of numerous decisions aimed at an "uncompromisingly authentic celebration" of the original console.

Beyond the Chromatic, the Financial Times also reports that ModRetro is actively developing additional devices, including one intended to emulate the Nintendo 64.

Related Developments

Separately, the Trump administration has reportedly supported Luckey's vision for autonomous weapons. Luckey's other venture, Anduril Industries, is also making headlines, reportedly in talks for a new funding round at a staggering $60 billion valuation.