ModRetro raises ~$145M for retro-inspired gaming consoles

What's the deal? ModRetro has raised approximately $145.2 million in equity financing from a total offering amount of $150 million, according to a filing tracked by MarketScreener.

Details on the specific investors and the company's intended use of proceeds were not disclosed in the report.

The signal: ModRetro, which develops retro-inspired gaming consoles built with modern components, is tapping into a wave of nostalgia-driven consumer electronics that has drawn significant venture interest in recent years. At the "breakout" stage according to Dealroom, a $145 million raise positions the company with substantial firepower to scale production and distribution in an increasingly competitive retro gaming market.

Read more: MarketScreener