Magic Leap attracts more than $50 mln

Magic Leap said Wednesday that it has raised more than $50 million in its Series Seed and A rounds. The investors were not named. According to the company, the funding will be used to develop its proprietary technology platform. Based in Hollywood, Florida, Magic Leap is a provider of novel human computing interfaces and software.

PRESS RELEASE

HOLLYWOOD, Fla., Feb. 5, 2014 /PRNewswire/ — Magic Leap, Inc., a developer of novel human computing interfaces and software, announced today the recent closing of its A round of venture capital. Magic Leap has now raised more than $50 million in its series seed and A rounds to develop its proprietary technology platform.
Magic Leap will use the funds to advance the product development and commercialization of its proprietary human computing interface technology, known as Cinematic Realitytm.
“Magic Leap’s mission is to develop and commercialize what we believe will be the most natural and human-friendly wearable computing interface in the world. What is remarkable is how well the human body and mind respond when technology respects biology, so truly magical experiences become possible. In this new world of the intimate relationship between computing and human sensory systems, Magic Leap is bending its proprietary technology to meet the very human needs of our future users and co-creators,” said Rony Abovitz, President, CEO & Founder of Magic Leap, Inc. “Our technology exists to unlock the creative spark found in all of us.”
Prior to starting Magic Leap, Inc., Mr. Abovitz was the co-founder and head of development and technology for MAKO Surgical (NASDAQ: MAKO) the world leader in human-interactive robotics for orthopedic surgery. The company was recently acquired by Stryker Corp. for $1.65 billion in December, 2013.
“What Rony and the Magic Leap team have created is nothing short of remarkable and will forever change the way we interact with images and information. The wearable technology they have developed is revolutionary in its ability to create amazingly immersive and fantastical experiences. This goal alone would be a Herculean endeavor for any development group, but the fact that the Magic Leap team is driven by the mantra of also delivering devices that complement human physiology is extraordinary” said Richard Taylor, Magic Leap Board of Directors’ member and Co-founder of Weta Workshop. “We are now at the threshold of giving people a dynamic image interface that harmonizes with their senses in a completely natural way. As a storyteller and as a person that loves creating and sharing imaginative worlds, it’s a very exciting time. The Magic Leap team has created something truly game changing. It is like a rocket ship for the mind.”
About Magic Leap, Inc.
Magic Leap, Inc. was founded in 2011 by Rony Abovitz, a few wizards, and inspired friendship from Sir Richard Taylor, co-founder of Weta Workshop. To learn more, please visit www.magicleap.com

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