Magic Leap’s augmented reality valued $4.5 billion

Magic Leap

Magic Leap, a secretive Florida-based start-up, has raised nearly $800 million from investors including Alibaba, Warner Bros and Google, as it prepares to begin production of a new “augmented reality” headset that its founder promises will bring users Harry Potter-like experiences. The new funding round for a start-up that is yet to show its technology publicly — let alone launch its first product — gives Magic Leap a valuation of $4.5 billion… Magic Leap plans to build a “full stack” of technology, from operating system to optics… Bigger rivals, including Microsoft and Apple, are also working on so-called “augmented reality” technologies, which many in Silicon Valley believe could one day supersede smartphones and PCs as the dominant computing platform… Fidelity, Morgan Stanley, JPMorgan Chase and Qualcomm Ventures also participated in the round.

 

Tim Bradshaw

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