Magic Leap Somehow Raises Another $500 Million in Funding

Kim Lyons, reporting for The Verge:

Magic Leap has raised $500 million in funding and is preparing to release a new AR headset, the Magic Leap 2, next year, the company announced Monday. The headset will be generally available next year, the company said, and “select customers” are using it as part of an early access program.

CEO Peggy Johnson said in a statement that with the new funding “Magic Leap will have greater financial flexibility and the resources needed to continue our growth trajectory as we expand on our industry-leading AR technology.” She revealed the new device in an Monday appearance on CNBC.

I can’t believe this company still exists, let alone is convincing investors to give them more money.

Wednesday, 13 October 2021