Palmer Luckey’s ModRetro Valued at $1 Billion Amidst Funding Rounds for Anduril

ModRetro, the retro gaming venture founded by Palmer Luckey, is reportedly in talks to raise funds at a $1 billion valuation. This news coincides with a separate funding round for Anduril Industries, Luckey’s defense technology company, which is seeking a $60 billion valuation The Verge.

ModRetro: A Nostalgic Venture

ModRetro focuses on creating updated versions of classic 1990s video game consoles Financial Times. The company gained attention with the Chromatic, a Game Boy-inspired handheld designed to compete with the Analogue Pocket. A limited edition bundle, the Anduril Chromatic, featuring ceramic armor plating and a sapphire screen cover, was released in December 2025, retailing for $350 and including branded headphones Resell Calendar.

Anduril Industries: From VR to Defense Tech

Palmer Luckey first rose to prominence as the founder of Oculus VR. He later founded Anduril Industries, a company that develops AI-powered autonomous weapons systems, including drones and planes Resell Calendar. Anduril’s simultaneous pursuit of a $60 billion valuation highlights Luckey’s diverse business interests.

Concerns Regarding Anduril Branding

The collaboration between ModRetro and Anduril Industries, specifically the Anduril-branded Chromatic, has raised concerns for some. Time Extension announced in December 2025 that they would no longer be covering ModRetro products due to the association with a defense technology firm that develops autonomous weapon systems Time Extension.

Early Roots in Modding

Interestingly, Luckey’s involvement in handheld modifications dates back to 2009 when he started the ModRetro forum Resell Calendar. This demonstrates a long-held passion for retro gaming technology that predates his success with Oculus VR and Anduril Industries.