AR Startup Magic Leap Is Looking to Raise Another Billion Dollars | Tech News
Magic Leap is reportedly finding another $1 billion in investments. With anticipation building for Magic Leap One, hopefully, this massive financial support is well worth it.
Magic leap has been touted as the future of augmented reality (AR). By superimposing advanced images into your “normal” field of vision, it has been adored and supported by many for it’s promised “magic” quality.
It might become even more “magical” if it receives the $1-billion investment that the company is reportedly raising. Investors in this most recent development haven’t been named, but previous investors like Google, Alibaba, and Qualcomm have helped to support the technology thus far.
This call for increased investment, which would put Magic Leap at $6.5 billion in valuation if this recent investment is solidified, is happening in advance of “Magic Leap One” — the company’s highly-anticipated initial device. So far, no one really knows any specifics about the device, but many have made exciting claims of its ability to incorporate virtual imagery with vision. But it is possible, despite such hefty investments and impressive claims, that the hype will outweigh the final product. Hopefully, this is not the case. Consumers, and likely the high-level investors, anxiously anticipate the tech and hope that the billions of dollars used in support of its development will allow for the creation of a truly game-changing technology.