Magic Leap Still Kicking

Last time Virtual Reality Observer focused on Magic Leap, the Florida-based “spatial computing” company headed by Rony Abovitz, things weren’t looking too promising. Announcing a significant reduction in its workforce in late April, many predicted Magic Leap would not be long for this world.

Magic Leap 1
Image: Magic Leap 1

As reported by The Information and Business Insider, Abovitz recently sent an internal memo halting the dismissal of employees and announcing that Magic Leap has raised $350 million from existing and brand new investors. Though the company has struggled to find commercial success since its founding in 2010, this new investment will help Magic Leap maintain a presence as it aims to bring its “spatial computing” to the masses.

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