Tuesday, February 2, 2016

Venture Investors Pour $793.5 million into Magic Leap

Magic Leap, a start-up pursuing a next-gen computing paradigm that combines digital and physical realities, announced $793.5 million in new funding, led by Alibaba Group.

Magic Leap is developing its Dynamic Digitized Lightfield Signal -- the ability "to generate images indistinguishable from real objects and then being able to place those images seamless into the real world."

The company said continued investment cam from Google, Qualcomm Ventures and others. New investment also came from Warner Bros., Fidelity Management, J.P. Morgan Investment Management, Morgan Stanley Investment Management, funds and accounts advised by T. Rowe Price Associates, and Wellington Management Company.

“Here at Magic Leap we are creating a new world where digital and physical realities seamlessly blend together to enable amazing new experiences. This investment will accelerate bringing our new Mixed Reality Lightfield experience to everyone,” said Rony Abovitz, Founder, President, and CEO of Magic Leap.


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