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Magic Leap Gets $500 Million in Funding... Again

Accepted submission by takyon at 2021-10-12 10:44:47

Seven years after raising $542M at a $2B valuation, Magic Leap raises $500M at a $2B valuation []

Magic Leap has had one hell of a journey, and to their credit, it seems investors are still addicted to giving them money.

The augmented reality startup announced today that they have raised $500 million at a $2 billion valuation from existing investors. The round echoes the terms of an October 2014 raise where Magic Leap raised $542 million at a reported $2 billion valuation. Quite a bit has happened in the meantime.

Curiously, Magic Leap decided not to actually disclose any of the specific investors participating in this latest fundraise. At this point, the company has raised $3.5 billion in total funding according to Crunchbase [], meaning that most of the investors they've brought in haven't fared too well thus far.

Magic Leap 2 Teased For 2022 With Taller Field Of View []

A blog post by Magic Leap CEO Peggy Johnson [] features an image, pictured below, comparing the field of view of the first and second generation AR headsets. While Magic Leap 2 seems to have small gains in horizontal field of view, vertically the augmentation of your vision should be far more significant with the new device. The company is said to have raised another $500 million to roll-out the second generation product focused toward business markets in 2022. "Select customers" are "already leveraging its capabilities through an early access program," according to the company.

Also at The Verge [].

Previously: Developers Race to Develop VR Headsets that Won't Make Users Nauseous [] (2015)
Magic Leap Bashed for Being Vaporware [] (2016)
Magic Leap Finally Announces a Product, But is It Still Vaporware? [] (2017)
Magic Leap Opens Up Orders for $2,295 "Creator Edition" Augmented Reality Headset [] (2018)
Magic Leap Accuses Chinese Company of Copying Trade Secrets [] (2019)
2020: The Year of AR? "$2.6 Billion Flop" Magic Leap Pivots to Enterprise [] (2019)
Magic Leap's $2.6 Billion Bait and Switch [] (2020)

Original Submission