Palmer Luckey’s retro gaming startup ModRetro reportedly seeks funding at $1B valuation

In Brief Posted: 2:26 PM PDT · March 8, 2026 Image Credits:Kyle Grillot/Bloomberg / Getty Images Anthony Ha Palmer Luckey’s retro gaming startup ModRetro reportedly seeks funding at $1B valuation ModRetro, the vintage gaming startup by Palmer Luckey, is in talks to raise funding at a $1 billion valuation, according to the Financial Times. The company launched its first product, a Game Boy-style handheld device called the Chromatic, in 2024. The Verge’s Sean Hollister said it “might be the best version of the Game Boy ever made,” but found it hard to separate from Luckey’s reputation as founder of defense tech startup Anduril Industries. “If Lockheed Martin made a Game Boy, would you buy one?” Hollister asked. Luckey said last year that he’d been trying to build a Game Boy-inspired device “off and on as a hobby for almost seventeen years now” and described the Chromatic as the result of “hundreds of irrational decisions” that made it “an uncompromisingly authentic celebration of everything that made the console special.” The FT reports that ModRetro is working on other devices, including one designed to replicate the Nintendo 64. Meanwhile, the Trump administration appears to have embraced Luckey’s vision for autonomous weapons, with Anduril reportedly in talks to raise a new funding round at a $60 billion valuation. Topics Gaming, Hardware, modretro, Palmer Luckey June 9 Boston, MA Actively scaling? Fundraising? Planning your next launch?TechCrunch Founder Summit 2026 delivers tactical playbooks and direct access to 1,000+ founders and investors who are building, backing, and closing.Register by March 13 to save up to $300. REGISTER NOW Newsletters See More Subscribe for the industry’s biggest tech news TechCrunch Daily News Every weekday and Sunday, you can get the best of TechCrunch’s coverage. TechCrunch Mobility TechCrunch Mobility is your destination for transportation news and insight.

Startups Weekly Startups are the core of TechCrunch, so get our best coverage delivered weekly. StrictlyVC Provides movers and shakers with the info they need to start their day. No newsletters selected. Subscribe By submitting your email, you agree to our Terms and Privacy Notice. Related Government & Policy Will the Pentagon’s Anthropic controversy scare startups away from defense work? Anthony Ha 1 hour ago Transportation TechCrunch Mobility: Rivian’s R2 gambit Kirsten Korosec 5 hours ago AI A roadmap for AI, if anyone will listen Connie Loizos 16 hours ago Latest in Gaming In Brief Palmer Luckey’s retro gaming startup ModRetro reportedly seeks funding at $1B valuation Anthony Ha 34 seconds ago In Brief Nintendo sues the US government for a refund on tariffs Amanda Silberling 2 days ago Apps Roblox launches real-time AI chat rephrasing to filter out banned language Aisha Malik 3 days ago