Magic Leap has previously raised $1.4 Billion in previous investment rounds, which is impressive given they are yet to have a product. The company are now seeking further investment that could see its valuation estimated between $6-8 Billion.
Recent reports from Backchannel suggest that Magic Leap is seeking a Series D financing deal. It’s yet to close but Alibaba are leading the round just as it did in the previous Series C round. It’s not yet clear just how much additional capital the company is intending to raise but it could catapult the company’s value. According to the report, Backchannel’s Jessi Hempel, who has visited Magic Leap’s Florida HQ, says it will value the company between $6–8 billion. This will push the startup beyond ‘Unicorn’ status, which indicates a startup that is achieving a $1+ billion valuation.
- Magic Leap may have oversold its mysterious AR technology
- AR startup Magic Leap is making immersive Star Wars experiences
- Microsoft will reportedly launch its next HoloLens AR headset in 2019
This would be impressive for any startup but even more impressive for Magic Leap who have only released a few teasers about the technology it is working on, and even then it seems quite ambitious. It’s one thing to tease a concept and another to deliver it. However, it seems that investors are fully bought into the technology Magic Leap are working on.
Magic Leap have demonstrated technology that would project real-life objects in augmented reality and it’s really breathtaking, but have not made it into any final products yet. Hopefully this next round of investment will help achieve this.