Magic Leap is the gift that continues to give. The company has been working for years on augmented reality technologies and has raised a huge pile of money on the way. The German media company Axel Springer announces today that she is investing an undisclosed amount in Magic Leap.
The German company takes a stake in Magic Leap through its Axel Springer Digital Ventures division. In his press release, Axel Springer says that Magic Leap represents a good opportunity to consume journalistic content and classified ads in an original way (although I'm not convinced that people want to read about garage sales in augmented reality) .
Magic Leap unveiled its first augmented reality headset in December 2017. The Magic Leap One is a helmet, a worn belt hip bag and a handheld controller. When you look at the boot press photos, it looks like a bulky device.
Many details are still unclear. For example, the company has not shared anything about pricing and software features. It is difficult to grasp the case of using the device without this information.
The Magic Leap One will be released sometime in 2018 for creators and content developers. End users will not play with the device yet. The target startup of the AR developers enthusiasts first.
Magic Leap has raised nearly $ 2 billion from Google, Alibaba, Warner Bros, Qualcomm, Kleiner Perkins Caufield Byers, Andreessen Horowitz and many others according to Crunchbase data.
The company unveiled a new $ 502 million Series D round in October 2017. The investment of Axel Springer could be part of this round. I asked the company to clarify this investment a bit and they would not comment anymore.