Magic Leap, the ultra-secret virtual reality start-up valued at 4.5 billion dollars

by bold-lichterman

The amount

The American virtual reality start-up Magic leap has just raised 794 million dollars (around 727 million euros) from numerous players, including the Chinese e-commerce giant Alibaba, as the main investor during this round of funding, but also from Alphabet ( Google), which was already a shareholder, and Qualcomm, reports the Wall Street Journal.

Last year, she raised $ 542 million. This new operation brings the valuation of the company to 4.5 billion dollars, which makes it a “unicorn”, that is to say unlisted start-ups whose valuation exceeds one billion dollars. .

The concept

Founded in 2010 by Rony Abovitz, one of the founders of Mako Surgical, a listed company specializing in medical devices, Magic Leap has remained very secretive about its virtual reality technologies. The company contented itself with posting a few videos on YouTube allowing Internet users to get an idea. For example, we see a user observing the solar system as if it appeared in front of him, or a whale jumping on the surface of the water (see the photo of the article).

Many sectors could be interested in such technology, such as entertainment for video games. But the potential is greater. Thus, several competitors, such as Microsoft, which with its HoloLens glasses on the development of 3D modeling solutions for the industry.

The objectives of the Start-up

With this new investment, already wants to prepare the deployment of its technology. CEO Rony Abovitz told the WSJ that Alibaba is a “strategic partner of choice for entering China”. Finally, it will also make it possible to pursue R&D efforts. This impressive fundraising also reflects the financial needs of the start-up: Magic Leap ensures that it is developing an entirely new technology.

Find out more: Augmented reality: but who is Magic Leap, the secret company that seduces the tech giants?

CEO: Rony abovitz

Creation: 2010

The head office : Dania Beach (Florida, United States)

Funding: more than 1.3 billion euros raised