News Ticker

The Mysterious Magic Leap Got Over $1 Billion In Funding

Magic Leap is a US startup company that is working on a head-mounted virtual retinal display which superimposes 3D computer-generated imagery over real world objects, by projecting a digital light field into the user’s eye. It is attempting to construct a light-field chip using silicon photonics.

From virtual to reality

While Oculus wants to transport you to a virtual world for fun and games, Magic Leap wants to bring the fun and games to the world you’re already in. And in order for its fantasy monsters to appear on your desk alongside real pencils, Magic Leap had to come up with an alternative to stereoscopic 3-D computer-generated imagery that doesn’t disrupt the way you normally see things. Essentially, it has developed an itty-bitty projector that shines light into your eyes—light that blends in extremely well with the light you’re receiving from the real world.

  • On December 9, 2015, Forbes reported on documents filed in the state of Delaware indicating a Series C funding round of $827m. This funding round could bring the company’s total funding to $1.4 billion, and its post-money valuation to $3.7 billion.
  • On February 2, 2016, Financial Times reported Magic Leap further raised another funding round of close to $800m, valuing the startup at $4.5 billion.
  • On February 11, 2016, Silicon Angle reported Magic Leap had joined the Entertainment Software Association.
  • In April, 2016, Magic Leap acquired Israeli cybersecurity company NorthBit.
 Magic Leap

You already own the world’s most amazing computer. You’re using it right now, to think with and blink with and maybe even smile with. It’s your one-of-a-kind mind. And with it, you can do incredible things. Magic things.

Compare that to the technology in your life. You know, those rectangular boxes that you spend the majority of your life staring into? The ones that demand your attention, and keep you distracted from the things that really matter: Friends! Family! Dragons!

With those things in mind, we decided to take a different path and rethink the relationship technology has with people. What we found was when you give the brain and the body what they want, suddenly the shackles are off, the rectangular boxes are tossed, and something magical happens…experiences like none you’ve ever seen.

Whales jump out of gymnasium floors, solar systems can be held in the palm of your hand, and you can share your world in completely new ways.

We’re so excited to show you what we’re building. So while we work to get it exactly right for you, please keep in touch and know that magic is right around the corner.

Founded by Rony Abovitz

With the massive investment last year, interest in the company has intensified. Abovitz says, “We went from ‘Does anyone care about this?’ to ‘Okay, people do care.’” Now he and the team are feeling the weight of these expectations. He says, “The inner 11-year-old—we want to blow that away.”

About Menno Lindeblad

I’m the founder of ParadigmataMedia.nl, FreelanceJournalism.eu ExecutiveBusiness.nl and publisher of AmsterdamToday.eu and obsessed with innovation in media. My professional life is dominated by two activities: trying to understand things and to put things in motion. The first has lead to various columns and articles. The second has put on the path of entrepreneurship. I have always worked at the intersection of journalism, media and technology. My goal is for Amsterdam Today to be the place where business owners turn to get inspired, to compare notes, to ask questions, and to learn from one another’s mistakes. Amsterdam Today is a global news community for the connected generation. We highlight human struggles and achievements, empower impassioned voices, and challenge the status quo. We bring you the stories that are shaping our world. Do you ever laugh, cry, get angry or inspired? You’ll fit right in. Got a pitch, tip or leak? Contact me via email: M.Lindeblad@AmsterdamToday.eu Contact: Website | Facebook | Google+ | More Posts

Leave a comment

Your email address will not be published.


*

UA-62801321-1