Magic Leap raising additional $827 million - Report

Augmented reality start-up's Series C funding round would bring total investment past $1.4 billion

Making a reality out of augmented reality is apparently pretty pricey. According to a Forbes report, Magic Leap is raising $827 million in Series C funding.

That would push the start-up's total funding over $1.4 billion. Magic Leap closed its Series A funding round in February of 2014 with more than $50 million to develop its "Cinematic Reality" platform, and followed up later that year with $542 million in Series B financing.

Magic Leap has not announced the Series C funding round, and a request for comment went unreturned as of this writing. Forbes cited filings obtained through private market data tracker VC Experts with the news. While it's not known which parties are leading the latest funding round, Magic Leap will apparently be bringing on a new board member as part of the arrangement.

While Magic Leap is one of the best funded experiments in augmented reality, it has also been one of the most secretive. Though the company was founded in 2011, the most significant public reveal of its technology to date was a minute-long "demo" posted to YouTube proclaiming to be "shot directly through Magic Leap technology", with no special effects used to modify the footage.

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Latest comments (1)

Although I have not yet personally viewed their tech, as I understand it from their prior releases, the Magic Leap uses an optical laser to project images on to the retina thereby displaying 3D objects in the world. If so, I find it difficult to understand how this demo actually shows their tech in action as I don't think they can to with a camera what they do with the eye.

Guess maybe a trip to Ft. Lauderdale to see this magic is in order...

Edited 1 times. Last edit by Tom Buscaglia on 10th December 2015 7:09pm

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