Magic Leap raises $500M and unveils Magic Leap 2 AR headset for next year

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Magic Bounce raised $500 million at a $2 billion valuation and unveiled its Magic Bounce 2 AR headset for subsequent 12 months.

CEO Peggy Johnson stated on CNBC that some consumers are checking out the brand new headset and normal availability would occur in 2022.

“This funding is crucial step in advancing Magic Bounce’s undertaking to change into the way in which we paintings,” stated Johnson, in a commentary. “Since becoming a member of Magic Bounce in 2020, my focal point has been on accelerating the corporate’s shift to the endeavor marketplace, strengthening our technological basis, and development a strong industry throughout sectors starting from healthcare and production to protection and the general public sector. With ongoing make stronger from our present traders, Magic Bounce may have better monetary flexibility and the sources had to proceed our expansion trajectory as we extend on our industry-leading AR era.”

Magic Bounce has long gone thru a whirlwind. Based in 2010 by way of Rony Abovitz, the corporate got down to be a pioneer in augmented truth and combined truth applied sciences. Abovitz raised $2.6 billion in more than one rounds and evolved the Magic Bounce One, a combined truth headset that debuted in August 2018.


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Peggy Johnson is CEO of Magic Leap.Peggy Johnson is CEO of Magic Leap.

Above: Peggy Johnson is CEO of Magic Bounce.

Symbol Credit score: Magic Bounce

However gross sales have been sluggish for the $2,295 tool, as customers didn’t dive into the pricy tech. After all, in April 2020, Magic Bounce determined to close down its client department and laid off about 1,000 workers, or part its team of workers. In Would possibly 2020, Abovitz introduced he would exchange himself as CEO (whilst staying at the board) simply as the corporate were given a big lifeline with a $350 million lift.

In September 2020, the board appointed Peggy Johnson as CEO. She’s a a former Microsoft govt, and this was once a part of a plan to double down at the endeavor markets. Enterprises are much more likely to shop for pricey AR headsets as a result of they may be able to see the worth in packages comparable to AR coaching, which can be utilized to interchange pricey coaching systems for brand new workers that may value tens of 1000’s of bucks or extra.

However there’s numerous pageant, as there are opponents comparable to Varjo, Microsoft HoloLens, and ongoing analysis into aggressive merchandise at puts comparable to Fb and Apple. The large platform corporations are unquestionably keen to take a position up to or greater than Magic Bounce, as AR is likely one of the contenders to be the following era of computing.


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