Google Takes a Magic Leap
Little is known about a company called Magic Leap, Inc. (founded in 2011), which just announced today that it has completed a $542 million Series B financing round, led by Google.
The images on Magic Leap’s website are intriguing, like a person holding a floating, pint-sized elephant in the palm of his hands. The concept is “visual computing,” and Magic Leap says it’s, “An idea that computing should be shaped and forged to work for us: our life, our physiology, our connected relationships. That exploring human creativity is as great an adventure as exploring space. It’s an idea based in the belief that people should not have to choose between technology or safety, technology or privacy, the virtual world or the real world.”
The company will use the proceeds to accelerate product development, release software development tools, expand its content ecosystem, and commercialize its proprietary mobile wearable system. The latter, is where Google may see its fit, with its expanding line of wearable technology.
“We are excited and honored to have such an extraordinary group of investors to help us bring our vision and products to the world," said Rony Abovitz, president, CEO and founder, Magic Leap, Inc. "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."
Sundar Pichai, SVP of Android, Chrome and Apps at Google Inc., will join Magic Leap's board of directors. Dr.Paul E. Jacobs, Executive Chairman of Qualcomm Incorporated and Don Harrison, Vice-President, Corporate Development at Google Inc. will join the board of directors of Magic Leap as observers.