Magic Leap Taps Market for More Funding

Magic Leap is somewhat of a dark horse in the augmented reality arena. We have reported on them before even though their releases are more of a short marketing release than a clear statement on the company’s technology, status or the like. What we know is that they are one of the best funded AR firms around with a $542 million round of funding a year ago. Now it seems that we can add a funding round of an additional $827 million on top of that according to Forbes. We should point out that at the current time this information has not been confirmed by Magic Leap or any company investing in them.

Magic LeapSource: Magic Leap

The Forbes article also quotes Magic Leap’s CEO Rony Abovitz that the solution is based on lightfield technology and requires a semiconductor chip that just does not exist in the world today. They are using the money to build manufacturing facilities in Florida, which does not come cheap by any means. (NH)