Google leads $500m investment in mystery start-up Magic Leap
Magic Leap, a little-known start-up focused around augmented reality technology, has raised over $500m in a funding round, with Google leading the rush to invest.
The mysterious business, founded by Florida-based entrepreneur Rony Abovitz, has previously stated it is attempting to develop the “most natural and human-friendly wearable computing interface in the world”.
In a recent blog post, Abovitz wrote that, “computing should match human experience, it should respect human physiology.”
Magic Leap has now raised $542m from investors including Google, mobile phone chip-maker Qualcomm and tech investment firm KKR, while Google’s senior vice president of Android, Chrome and Apps Sundar Pichai will join the start-up’s board.
"We are excited and honoured to have such an extraordinary group of investors to help us bring our vision and products to the world," said Abovitz.
"Magic Leap is going beyond the current perception of mobile computing, augmented reality, and virtual reality. We are transcending all three, and will revolutionize the way people communicate, purchase, learn, share and play."
From Facebook to Apple, big technology companies are exploring new wearable and virtual-reality technologies. Earlier this year, Facebook spend $2bn on 3D headset technology maker Oculus Rift.
Source:mandmglobal
23 October 2014 
