Magic Leap CEO Rony Abovitz

Magic Leap has secured $350 million in a new investment round as it tries to secure the future of the company.
The financing was announced in an internal email to staff by CEO Rony Abovitz. The round included both current and new investors, Abovitz said.
The company is working on its next headset, Magic Leap 2, but has made a shift to the enterprise market.
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Having recently laid off around half the company, Magic Leap has just secured $350 million in financing as the augmented reality company tries to pave a way forward.

In a letter sent to employees, and seen by Business Insider, Magic Leap CEO Rony Abovitz said that the financing was led “by current major investors in Magic Leap, as well as new investors.”

It’s not clear who the investors are, but Magic Leap has attracted stakes from major names including Google, Alibaba, AT&T, and Warner Japanese telecom giant NTT Docomo in the past. It’s also not clear whether the financing is debt or equity.

The Information recently reported that Magic Leap had …read more

Source:: Businessinsider – Technology


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