Axel Springer Become Latest Investor in Magic Leap
Magic Leap secures more funding from digital publisher Axel Springer Digital Ventures.
With the announcement last December that the Magic Leap One Creator Edition hardware will begin shipping to select content developers and creators some time in 2018, there is much anticipation surrounding the grand reveal of the first product from secretive immersive technology company Magic Leap. Despite the lack of information available to the general public, technology companies and venture capitalists remain convinced about the future of Magic Leap, as demonstrated by the latest investor, Axel Springer.
Axel Springer Digital Ventures is a headquartered in Berlin and is one of the leading European publishers in Europe, covering areas of news media, classified adverts and marketing. The firm is active in over 40 countries and has an extensive portfolio of holdings in the USA, including well-known internet brands such as Business Insider and eMarketer.
Axel Springer revealed its intent to actively participate in the development of technology that will ‘present journalistic content and classifieds in new formats and environments’. Though the full technical details of the Magic Leap One headset are yet to be revealed, it is known that the headset will be using Light Field technology to project AR images on to the real-world, something that has considerable potential for journalistic and marketing applications.
The investment from Axel Springer goes alongside other funding injections from big names such as Google, Qualcomm and Warner Bros. Magic Leap have secured almost $2 billion in funding since the company was launched six years ago.
The Magic Leap One Creator’s Edition comes with the ‘Lightwear’ headset, the Lightpack processing and battery pack and a 6DoF controller. Full specifications for the device have yet to be revealed, but a Creator’s Portal for early adopters of the device is expected to be made available later this year, which will contain resources for developers and creators, such as a software development kit.
Any further news on developments involving Magic Leap and its products or investments will be here on VRFocus.