Magic Leap has raised $500 million in funding and is preparing to release a new AR headset, the Magic Leap 2, next year, the company announced Monday. From a report: The headset will be generally available next year, the company said, and “select customers” are using it as part of an early access program. CEO Peggy Johnson said in a statement that with the new funding “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.” She revealed the new device in an Monday appearance on CNBC.
Magic Leap, of course, is the company that began its existence as a mysterious AR startup, received almost $3 billion to fund its consumer-friendly AR headset, before changing its headset’s name from Magic Leap 1 to The Magic Leap One Creator Edition in an attempt to attract professional customers. The company laid off 1,000 employees — roughly half its workforce — in 2020, and was reportedly abandoning its consumer business. Cofounder and CEO Rony Abovitz left the company in July 2020, and was replaced by Johnson. Magic Leap, which has previously raised $3.5 billion (according to Pitchbook), is now valued at $2 billion, down from $6 billion in 2018.
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