unilad
Advert
Advert
Advert
Advert

VR Company Magic Leap Raise Over £547 Million For Mysterious New Product

by : Ewan Moore on : 03 Feb 2016 12:56

The Florida based tech company Magic Leap have announced that they’ve managed to raise £547 million ($793.5) in funding, all to aid their quest of blending the digital and physical worlds… with a product that haven’t actually announced yet. Ambitious. 

Advert

Alibaba Group led the charge for funding, with further contributions from the likes of Google, Qualcomm, Warner Bros, and more.

Magic Leap’s mystery product is a computing platform that will seamlessly “combine and experience your digital and physical lives.” You can check out a brief demo of what the tech can supposedly do in the video below.

Magic Leap CEO Rony Abovitz said in a statement:

Advert

Here at Magic Leap we are creating a new world where digital and physical realities seamlessly blend together to enable amazing new experiences.

It certainly sounds exciting, and Magic Leap as a company now has a valuation of roughly £3 billion ($4.5). Again, they’ve actually yet to release anything, so this is quite a feat.

No word on when this mystery augmented reality product will be available just yet. We imagine the guys at Magic Leap are currently too busy diving into fat piles of cash, Scrooge McDuck style.

Ewan Moore

Ewan Moore is a journalist at UNILAD Gaming who still quite hasn't gotten out of his mid 00's emo phase. After graduating from the University of Portsmouth in 2015 with a BA in Journalism & Media Studies (thanks for asking), he went on to do some freelance words for various places, including Kotaku, Den of Geek, and TheSixthAxis, before landing a full time gig at UNILAD in 2016.

Topics: Gaming

Credits

GameSpot and 2 others
  1. GameSpot

    $793.5 Million to Bring Mysterious Product to Market Faster

  2. Fast Company

    MAGIC LEAP SCORES $793.5 MILLION TO SCIENCE THE HECK OUT OF "MIXED REALITY LIGHTFIELD"

  3. Wired

    Magic Leap Just Landed an Astounding Amount of VC Money