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Electronics Production |
Magic Leap raises $793.5 million in new funding
Augmentative reality startup Magic Leap – you know, the product that we still know very little about thanks to secrecy – that mixes the real world with that of... well anything if we're to belive the videos, has raised USD 793.5 million in a funding, led by Alibaba.
Continued investment comes from Google, Qualcomm – through its venture investment group, Qualcomm Ventures – and others. New investment also comes from Warner Bros. and financial institutions, including Fidelity Management and Research Company, J.P. Morgan Investment Management and Morgan Stanley Investment Management.
“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, Inc. “We are excited to welcome Alibaba as a strategic partner to help introduce Magic Leap’s breakthrough products to the over 400 million people on Alibaba’s platforms.”
“We invest in forward-thinking, innovative companies like Magic Leap that are developing leading products and technologies,” said Joe Tsai, Executive Vice Chairman at Alibaba. “We believe Alibaba can both provide support to and learn from such a partner, and we look forward to working with the Magic Leap team.”
