Search giant Google and several other firms just invested over half a billion dollars in a mysterious startup which is reportedly focused on virtual reality and augmented reality space.
Magic Leap, a company about which very little is known, said it raised USD 542 million in a funding round led by the tech giant Google.
Among the other players involvement in the investment round are private equity firm KKR, Vulcan Capital, Silicon Valley heavyweight venture capital firm Andreessen Horowitz, Kleiner Perkins Caufield & Byers, telecom firm Qualcomm and film studio Legendary Entertainment.
Revealing about the Magic Leap’s product, the company’s founder and CEO Rony Abovitz had said in February this year that their mission was to “develop and commercialize the most natural and human-friendly wearable computing interface in the world.”
In a statement, Richard Taylor, co-founder of Weta Workshop, had gushed about the technology of Magic Leap.
Weta Workshop, the digital effects house, is known mainly for its incredible works on the Lord of the Rings films.
“What Abovitz and the Magic Leap team have created is nothing short of remarkable and will forever change the way we interact with images and information. We are now at the threshold of giving people a dynamic image interface that harmonizes with their senses in a completely natural way,” said Taylor, who is now on the board of directors of Magic Leap.
Sundar Pichai, senior vice president of Chrome, Android and Apps at Google, will be joining the board of members at Magic Leap. Paul Jacobs, executive chairman of Qualcomm, will take over as an observer at Magic Leap’s board.
According to a Re/code report, Magic Leap has promised to deliver a more realistic 3-D experience compared to those offered by current rivals including 3-D headset maker Oculus Rift.
Magic Leap has, however, maintained secrecy over what it has to offer in its cart as far as technical specifics are concerned. But, whatever be the case, Google and several other major tech players have shown trust in the company and have invested a whopping chunk of amount in it.
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