Magic Leap Raises $280 Million From NTT DoCoMo IndustryTimes
Magic Leap has responded partly by forming strategic and financial bonds with big telecom partners that could introduce its technology to consumers and business customers. Last year, the company struck a partnership with AT&T, which now sells the Magic Leap One in a handful of cities in the United States.
By teaming up with DoCoMo, Magic Leap hopes to serve a similar role for another major market. Beyond the ability to expose more potential customers to the Magic Leap One, a forthcoming gigabit high-speed internet service from DoCoMo could help advance augmented reality applications.
“They’re a forward-looking company,” Rony Abovitz, Magic Leap’s founder and chief executive, said of DoCoMo in an interview. “I think this is quite transformational for us and for the country.”
DoCoMo’s funding is also important for Magic Leap as it competes against deeper-pocketed rivals. Microsoft rolled out the second version of its competing HoloLens this year, with an eye on capturing the potentially lucrative market for business users, like factory workers.
Mr. Abovitz said any progress would continue to be expensive. “The R&D investments are substantial, but so is the upside,” he said.