Magic Leap Receives $ 500 Million To Create Next-Generation AR Headset

Augmented reality headset company Magic Leap has announced that it has received new technology funding and plans to release the Magic Leap 2 AR model next year. Some users in the beta testing program have the opportunity to work with it now.

In an interview with CNBC yesterday, the head of the company Peggy Johnson (Peggy Johnson) said that the new product will be the smallest and lightest in the industry, will receive a double field of view and will use special technology that allows you to use the headset in bright conditions. At the same time, the novelty is designed primarily for corporate users; an additional $ 500 million in investment was attracted for its development.

At one time, the startup Magic Leap received almost $ 3 billion in funding for the development of an AR headset. Later the model name was changed from Magic Leap 1 to Magic Leap One Creator Edition in an attempt to attract professional users. As a result, in 2020, up to 1000 people had to be fired – about half of all employees, many top managers of the company also changed, including its former head, who was replaced by Johnson.

In April, she announced that a limited number of next-generation headsets will appear this year, 20% lighter and with a double field of view. Judging by the latest announcement, the Magic Leap 2 headset is aimed at business users.

In a recent post, Johnson stated that the International Data Corp. (IDC), the market for AR / VR devices will grow to $ 140 billion by the end of 2024. She named corporate clients of the company, including Ericsson and insurance company Farmers Insurance, the latter already using the technology to distance learning of new employees during the pandemic. Also named among the strategic partners are Google Cloud, PTC, NVIDIA and VMWare.

While Peggy Johnson says its core business is developing AR solutions for business, the company retains a strong interest in custom solutions. It is also known that Magic Leap has already received requests from several companies to purchase licenses for its technologies and intends to actively use these opportunities if they help expand the position and business opportunities in the corporate market.

About the author

Johnson Smith

Johnson Smith is interested in Home Theater & Audio, Smart Tech, Google News & Products, How To, Apple News & Products, Cell Phones, Automotive Technology.

Add Comment

Click here to post a comment