Magic Leap Secures $542M Led By Google For “Lightweight Wearable” Tech That Merges Physical And Digital Worlds


Is Magic Leap prefigured in William Gibson’s “Virtual Light”?

TechCrunch

It’s rare that a company can stay relatively secretive while raising a huge amount of funding, but Florida’s Magic Leap has managed that. The startup, led by CEO Rony Abovitz, announced today the close of its $542 million Series B, featuring investors led by Google, Inc., and including KPCB, Andreessen Horowitz, Obvious Ventures, Qualcomm and Legendary Entertainment.

The list of investors reads like a who’s who of influential companies and individuals across various industries, and Abovitz explained to TechCrunch that the reason for that is that the tech’s potential isn’t limited to any one field, which he says puts its potential market size in the trillions of dollars annually range. That could explain the valuation of Magic Leap, which is north of $1 billion, given that this round is still a minority investment, per Abovitz.

But what is Magic Leap? It’s a question that the startup isn’t answering in detail…

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