Magic Leap Raises Big New Round of Funding (Oct 12, 2017)
Magic Leap, the stealth AR startup based in Florida, has just raised yet more funding, according to a regulatory filing, though the exact amount isn’t yet public. It has an authorization to raise up to $1 billion at a roughly 17% premium to its last round, and Singapore’s Temasek is expected to be one of the investors. That Magic Leap is raising even more money ahead of what’s been widely expected to be a launch late this year is both a sign that its investors are still excited by what they see, and also likely a sign that it isn’t quite ready to launch and therefore start generating revenue yet. Both Magic Leap and a small group of people who’ve seen its product continue to be very bullish about its technology, but it remains tight-lipped about exactly what it’s building, what form its product will take, how it will be priced, or when it might launch. Hopefully that will change soon, because for now gaming-centric headset VR and smartphone-based AR are really the sum total of the combined AR and VR markets, and Magic Leap has the potential to add an interesting new segment to the market.
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