Display startup preps $1 billion funding round

Display startup preps $1 billion funding round

Business news |
By eeNews Europe

The deal would give the startup a $4.5 billion valuation, the report said.

This would be approximately twice as high a valuation as $542 million Series B that closed in late 2014 and included Google Inc., Qualcomm Ventures, KKR, Vulcan Capital, Kleiner Perkins Caufield & Byers, Andreessen Horowitz, Obvious Ventures, and other investors.

At that time it was announced that Sundar Pichai, SVP at Google Inc. and Paul Jacobs, at the time executive chairman of Qualcomm, would join the Magic Leap board of directors.

Next: Already all round the world

Magic Leap was founded in 2011. Its technology is said to be still some way from being wearable although an obvious commercial goal would be some sort of head-mounted display. The company has reportedly filed for 150 patents to date including those that encompass the use of electronic contact lens for the retinal display.

Magic Leap says of itself that it is developing a "mixed-reality" computing platform and has locations in Santa Cruz, Los Angeles, Mountain View, Seattle, Austin, the UK, New Zealand, and Israel.

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