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More Money For Magic Leap?

Date Type Companies involved Size
September 14th, 2017 investment Magic Leap $0.5m
More Money For Magic Leap?

Magic Leap may be looking to secure additional funding in excess of $500 million, according to an article by Bloomberg. The article states that Singapore-based Temasek Holdings Pte is considering taking part in a new financing round, ‘According to people familiar with the situation’. If successful, this investment would value Magic Leap in the region of $6bn.

 

Six Months Away

The article also states that the first hardware should ship to ‘A small group of users within six months, according to three people familiar with its plans’, priced between $1,500 and $2,000.

That price range would fall outside that suggested by founder and CEO Rony Abovitz, speaking at the eMerge Americas investor conference in Miami, Florida, where he told the audience that, “It’s being priced for affordability”. He went on to describe it as a, “Mass premium consumer device” adding that, “It’s not a Kindle - and it’s not unobtainable”.

 

On Form

Speaking to the final form factor, Bloomberg reports that Magic Leap will be bigger than a pair of glasses, but smaller than VR headsets with, ‘A puck-shaped device, around the size of a smartphone, that would wirelessly provide processing and information to the glasses’, according to ‘People who were not authorized to speak publicly’. That ties in nicely with the images we published last month.

 

Spatial Computing

Very few people outside of the company have been privileged enough to try the hardware and Magic Leap has yet to share exactly what it’s been working on. They have told us that it definitely is not VR and even AR isn’t the right term apparently, so Abovitz describes it as, “Spatial computing with a digital light field”.


Editor

Steve is an award-winning editor and copywriter with 20 years’ experience specialising in consumer technology and video games. He was part of a BAFTA nominated developer studio as project manager for the UK’s first fully interactive digital TV channel. In addition to editing TheVirtualReport.biz, Steve contributes to PocketGamer.biz, PCGamesInsider.biz and BlockchainGamer.biz, as well as creating marketing content for a range of SMEs and agencies.

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