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


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. 

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:

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.