Magic Leap announced that it raised $827 million in a Series C round. This brings the company’s total amount raised to $1.4 billion, and puts them at a market valuation of $3.7 billion.
What makes Magic Leap unique from Oculus or Hololens is that it is able to project “digital lightfields” into the users eyes to make it appear there are animations happening right in front of you.
In October 2014, Magic Leap raised $542 million in Series B funding led by Google, with participation from Qualcomm Ventures, KKR, Vulcan Capital, Kleiner Perkins Caufield & Byers, Andreessen Horowitz, Obvious Ventures, and more. Simultaneously, Google’s now-CEO Sundar Pinchai joined Magic Leap’s board of directors.
That information, combined with YouTube videos uploaded by the company, suggests that Magic Leap is working on an AR headset – not too dissimilar to Microsoft’s HoloLens – that will let wearers interact with holographic objects and even play detailed augmented reality video games.
Magic Leap has previously recruited game industry veterans including 7th Guest creator Graeme Devine, and is currently actively recruiting for game projects involving Devine and Weta Workshop (Lord Of The Rings) concept designer Greg Broadmore – Weta’s Sir Richard Taylor is an advisor to the firm.