Way in October, Magic Leap, the still-in-stealth-mode company developing an augmented-reality headset, announced that it has raised $502 million in Series D equity funding, led by Singapore investment firm Temasek Holdings. The problem was, that at that time, they just promised to create a headset using a type of light-field technology that would result in superior augmented reality experiences, an area most major consumer technology companies are chasing. But it has never given a launch date for its device, nor offered much detail on how it would work. But it seems, something is actually happening. They invited a reporter from Pitchfork, an online music magazine, to
Magic Leap Raises $502 Billions Driven by Temasek
Magic Leap, the still-in-stealth-mode company developing an augmented-reality headset, announced that it has raised $502 million in Series D equity funding, led by Singapore investment firm Temasek Holdings. The augmented reality company raised such a sum propelling their total venture funding to $1.9 billion. While that’s far less than Uber, Slack, and other tech unicorns, Magic Leap is special because it has no product to show for it -at least we haven’t still seen anything. “We’re excited to welcome Temasek and the other new investors in this round to the Magic Leap family,” Magic Leap founder and president Rony Abovitz said in a release. “We
Magic Leap and Madefire delivering VR Comic
Secretive augmented-reality start-up Magic Leap is partnering with online comic book publisher Madefire to deliver mixed reality comics to Magic Leap’s devices when they launch. According to Rolling Stone, the news sort of snuck out during a Friday night New York Comic-Con panel with a deliberately vague name: “The Future of Comics in New Realities.” Madefire already has VR apps for the Oculus Rift and Samsung Gear VR, but Magic Leap advisor Andy Lanning has revealed a couple of key differences at the con. The Magic Leap version will apparently feature spatial sound and comics will appear much crisper and more readable on it. So far, Magic
Can Mystical Magic Leap Lure Singapore’s Temasek into its Net?
Magic Leap Inc., a Florida-based startup that’s raised more than $1.3 billion to build a wearable computing device, is trying to raise even more cash as it readies a long-awaited debut product. According to Bloomberg, one of the organizations that are most interested in investing is no other than Temasek Holdings Pte. Ltd., investment arm of Singapore’s government. As stated, they are thinking of taking part in a new financing round of more than $500 million, bringing Magic Leap valuation close to $6 billion. Magic Leap is a US startup that is working on a head-mounted virtual retinal display which superimposes computer-generated imagery over real world objects. Revolutionary approach calls
Magic Leap Could be a Great Strategic Acquisition
Since Magic Leap’s inception in 2011, there has been great innovation in the technology sector focused in the virtual reality (VR)/augmented reality (AR)/mixed reality (MR) space with Magic Leap trying to create a new hardware interface designs. However over the last 6 years, Magic Leap has continually run into issues with its product pipeline causing critics to swarm on the perceived failure of the company. Company culture has been on attack with allegation of misogyny and discrimination towards women. The company is at a crossroads and must pick a new direction to sustain its survival. Magic Leap has pivoted its business model on multiple occasions
AR and VR Investments Are Accelerating
1968 was a year widely known for hippie culture, green smoke, free love etc. That year saw San Francisco hosting not just the hippies and free love, but a very significant presentation was held. The author was Doug Engelbart and his presentation became known as “The Mother of All Demos”. Instead of standing at a podium, Mr. Engelbart sat in a custom designed console, where he drove his presentation through the NLS computer residing 30 miles away in his research lab at the Stanford Research Institute. From the remote location, Mr. Engelbart transported images into a large projection screen overhead, flipping seamlessly between his presentation outline
Graphene Batteries Enable Future; Magic Leap and other AR/VR Players
Third week of July saw a major technology breakthrough that will probably affect the shape of the world we currently live in. While the previous attempts at creating a non-lithium based battery pack did not result in a major volume, the tide is turning. Turnigy Graphene brought the technology to market for DIY and enthusiast markets (battery packs for drones, model planes, RC cars etc.), and now Chinese company Dongxu Optoelectronics launched a consumer version of the graphene battery technology. Named G-King Battery Pack, Dongxu is launching a battery pack for mobile phones and tablets promising record quick recharges. While the product has somewhat modest capacity of 4,800 mAh (Thermaltake’s
The World of Mobile VR After Pokemon Go
Virtual Reality Gaming isn’t coming, it’s already here. With the introduction of Google Cardboard and the Daydream VR platform, Oculus and HTC discrete VR headsets and GearVR headsets for even smartphones like the Samsung’s Galaxy S7, the first tentative steps towards virtual reality gaming are being taken. With Facebook announcing its buy-in of virtual reality technology for a whopping $2 billion, Google has responded with its own VR system, a simple piece of cardboard that can turn your Android phone into a neat virtual reality headset. This all proves that VR gaming is here to stay. Already, the range and quality of available games is encouraging.
Is ODG’s “Project Horizon” the Ultimate Mixed Reality Headset?
There’s little doubt that the most advanced augmented reality headgear currently exists solely in the realms of military use. From an eyeball projecting Heads-Up Display for the F-35 Lighting II fighter jet to high-resolution AR visor that doesn’t project blue color because well – blue is the color of the sky – these multi-thousand dollar pieces of equipment could solve the consumer conundrum for both VR and AR. Osterhout Design Group, also known as ODG is one of such military-focused company – just announced its consumer effort code named “Project Horizon”. In order to bring what might be the ultimate AR headset, ODG is teaming up
Magic Leap to Unveil their Technology on CES 2017?
Magic Leap is without a doubt one of the hottest companies that appeared in the technology space. Over their brief existence, the company received over $1.4 billion in funding, with the most recent round being a record $793.5 million Series C. The startup is beyond secretive, and by confining themselves to Florida, Magic Leap is avoiding the “Silicon Valley Leakage”, mostly driven by relaxed labor laws in the state of California. Still, the vision is breaking through, and through a carefully designed PR plan, Magic Leap is slowly coming out of the shadow. The latest issue of Wired brings the cover story on Magic Leap, showing all
VR Startup Magic Leap Closes $542M Funding Round
The secretive VR startup Magic Leap just closed a Series A $542 million round of funding that includes Google, Qualcomm, Legendary Entertainment and more