Magic Leap Announces Additional Investments from Saudi Arabia

Magic Leap has raised an additional $461 million in Series D funding. $400 million of this new investment came from the Kingdom of Saudi Arabia’s Public Investment Fund, with “new investors” contributing the remaining $61 million. These new funds bring Magic Leap’s Series D funding round total to $963 million and its current investment total to $2.3 billion. (Magic Leap Shows … Something)

Analyst Comment

It is quite incredible how successful Magic Leap has been in raising money. Either the company has a genuine breakthrough, or too many have got caught up in the excitement of making “the next big thing”. At the moment, I’m not convinced it has the technology to make back the kind of money that has been invested.

Occasional Display Daily contributor, Karl Guttag, has been wading through a 272(!) page patent application by Magic Leap that describes a headset using field sequential colour LCOS microdisplays and a six layer diffractive waveguide. Guttag has made a mock-up of the headset and said that he has found ‘many human factor(s) issues’. Guttag has appeared on a podcast about Augmented Reality. It’s worth a listen if you have 100 minutes (for episode one)! (BR)

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