Magic Leap, everyone’s favourite augmented reality (AR) company that’s not publicly shown anything tangible apart from a couple of videos is looking to raise further capital a report suggests, adding to its nearly $1.4 billion in funding.
Bloomberg reports that Singapore-based Temasek Holdings is supposedly going to take part in a new funding round that’s looking to secure $500 million USD. If successful that would put Magic Leaps market value at nearly $6 billion. This comes off the back of the Florida-based company already having high profile investors such as Google, Alibaba and Qualcomm.
What’s more interesting is that sources told Bloomberg that Magic Leap plans on shipping a small amount of devices to select users within the next six months. Supposedly the device will retail for around $1,500 to $2,000, so its not exactly aiming to the mainstream market putting it closer to Microsoft’s HoloLens than consumer VR headsets.
Magic Leap’s device is reportedly going to be bigger than a pair of glasses whilst being smaller than VR head-mounted displays (HMDs) like Oculus Rift. Users will need to carry around a smartphone sized device that would provide all the processing power which will be wireless.
As with everything Magic Leap don’t take this news as gospel. Most recently a patent came to light showcasing what the Magic Leap glasses may look like, which the company denied while inside sources said that wasn’t the case.
When some concrete details do finally emerge from Magic Leap, VRFocus will let you know.
Source: Magic Leap Looks to Raise Further Investment as Devices Could Begin Shipping in Six Months