ModRetro, the vintage hardware startup founded by Oculus creator Palmer Luckey, is currently in talks to secure fresh funding at a $1 billion valuation, according to the Financial Times.
The Chromatic: Reimagining Classic Handheld Gaming
The company debuted its flagship hardware—a Game Boy-inspired handheld named the Chromatic—in 2024. In a review for the device, The Verge’s Sean Hollister noted that the console “might be the best version of the Game Boy ever made.” However, Hollister highlighted the difficulty of separating the gaming hardware from Luckey’s prominent role as the founder of defense technology contractor Anduril Industries, posing the question: “If Lockheed Martin made a Game Boy, would you buy one?”
Seventeen Years in the Making
Building a modern tribute to legacy hardware has long been a personal endeavor for the entrepreneur. Luckey revealed last year that he had spent nearly seventeen years working on a Game Boy-inspired system as a personal side project. He described the Chromatic as the outcome of “hundreds of irrational decisions” aimed at delivering “an uncompromisingly authentic celebration of everything that made the console special.”
Upcoming Hardware and Broader Venture Successes
ModRetro’s ambitions extend well beyond handheld systems. Reporting indicates that the startup is actively developing additional nostalgic gaming hardware, including a console designed to replicate the Nintendo 64 experience.
The gaming venture’s billion-dollar push coincides with massive growth across Luckey’s other business pursuits. The Trump administration has increasingly embraced Luckey’s vision for autonomous weapons technology, driving his defense startup, Anduril Industries, into funding discussions that could value that company at $60 billion.
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