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Mysterious AR startup Magic Leap looking to raise $827 million

December 10, 2015 | By Chris Kerr

December 10, 2015 | By Chris Kerr
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Mysterious augmented reality startup Magic Leap is raising $827 million though a new series C funding round, according to a Delaware filing acquired by Forbes

If successful, the new round would bring Magic Leap's total investment to nearly $1.4 billion, with the company having previously secured $542 million from a funding round led by Google back in October 2014

Right now there's no way of knowing who the new investors are, although it's worth noting that Magic Leap are offering seat on the board as part of the package.

Despite raising a ton of cash from major investors, Magic Leap has so far kept its tech well under wraps. 

That being said, we do know that the company is working on some form of wearable augmented reality device that will link up with smartphones and produce realistic 3D models. 

More recently, Rachel Metz of the MIT Technology Review also revealed that Magic Leap has devised an alternative to stereoscopic 3D; a new "itty-bitty projector that shines light into your eyes [and] doesn't disrupt the way you normally see things."

That information, combined with YouTube videos uploaded by the company, suggests that Magic Leap is working on an AR headset - not too dissimilar to Microsoft's HoloLens - that will let wearers interact with holographic objects and even play detailed augmented reality video games. 

Magic Leap has previously recruited game industry veterans including 7th Guest creator Graeme Devine, and is currently actively recruiting for game projects involving Devine and Weta Workshop (Lord Of The Rings) concept designer Greg Broadmore - Weta's Sir Richard Taylor is an advisor to the firm.



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