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Magic Leap Raising $827 Million For It’s Augmented Reality Platform!

Posted by: on Dec 10, 2015 | No Comments

Magic Leap wants to change your reality. And apparently they need a lot of money to do it. The secretive augmented reality startup–think Google Glass meets Oculus Rift–is raising $827 million in a new Series C round, according to a Delaware filing obtained by FORBES from private market data provider VC Experts  Magic Leap’s new round could bring the company’s total funding to $1.4 billion, and its potential fully-diluted post-money valuation to $3.7 billion (based on the option pool and all shares being issued).

magic leap

That would make Magic Leap one of the largest and most highly funded startups in the world–even though they have yet to release a product. Magic Leap’s promised “augmented reality” is even more ambitious than virtual reality efforts by Facebook’s Oculus and others because it promises to layer digital images on top of the real world through special eyeglasses. A few other companies, like Microsoft’s HoloLens, have demonstrated similar technology using stereoscopic techniques to create the illusion of 3D, but Magic Leap says it can project ”digital lightfields” into the user’s eyes for greater realism.

Read the entire story at Forbes.

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