Magic Leap has been valued at $2 billion ahead of the release of its next AR headset
➨ Magic Leap reveals next-gen AR headset, after securing $500 million in new funding
➨ Magic Leap 2 will arrive some time next year
➨ The new headset features ‘leading optics, the largest FOV in the industry and dimming’
Magic Leap has revealed the next generation of its flagship augmented reality (AR) headset, after securing $500 million in new funding.
The company, which is focusing on AR for enterprise after a difficult 18 months that saw significant job losses, the arrival of Peggy Johnson as chief executive officer and a pivot away from the consumer market, now has a post-money valuation of roughly $2 billion.
Magic Leap says the new funding will be used in part to roll-out its second-generation product, Magic Leap 2, next year.
Although no specs were revealed, Johnson did say in a blog post that Magic Leap 2 “will be the industry’s smallest and lightest device built for enterprise adoption”.
It has “leading optics, the largest field of view (FOV) in the industry, and dimming—a first-to-market innovation that enables the headset to be used in brightly lit settings, in addition to a significantly smaller and lighter form factor”.
Johnson continues: “These updated features lend themselves to achieving our goal of all day, everyday use, which is what the enterprise market has been asking for—a device that you can put on your head in the morning and wear all day long.”
With the next-gen AR headset slated for release in 2022, its early access programme is already underway. Johnson says dozens of partners and customers across the technology, healthcare, manufacturing and defence industries have committed to the device.
Commenting on Magic Leap’s $500 million in new funding, Johnson says: “This investment is an important step in advancing Magic Leap’s mission to transform the way we work. Since joining Magic Leap in 2020, my focus has been on accelerating the company’s shift to the enterprise market, strengthening our technological foundation, and building a robust business across sectors ranging from healthcare and manufacturing to defence and the public sector.”
“With ongoing support from our existing investors, Magic Leap will have greater financial flexibility and the resources needed to continue our growth trajectory as we expand on our industry-leading AR technology.”
While pivoting to enterprise and installing a new senior leadership team, Magic Leap has also been busy building a software ecosystem to support its plans for enterprise AR, including partnerships with Google Cloud, PTC, NVIDIA and VMWare.
Images: Magic Leap