The augmented reality technology developer, which counts a host of corporates among its investors, attracted new funding at a $2bn post-money valuation.
Magic Leap, a US-based augmented reality (AR) system developer backed by several corporates, secured $500m yesterday at a post-money valuation of about $2bn, from undisclosed participants described by TechCrunch as existing investors.
Founded in 2011, Magic Leap has developed AR headsets and goggles using digital light-field signal technology which enables users to view graphics overlaid on their surroundings without side effects like nausea and headaches. It can be applied to a variety of fields, from gaming and entertainment to smartphones…
