StageConvertible Note | Alive
Last Raised$150M | 5 mos ago
About Magic Leap
Magic Leap operates as an augmented reality company developing human computing interfaces and software. It offers a wearable device that allows users to see and interact with digital content on a live platform. Its products include a headset, a processor unit, and a controller powered by the spatial operating system. The company was founded in 2010 and is based in Plantation, Florida. In March 2018, Magic Leap was acquired by the Public Investment Fund.
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ESPs containing Magic Leap
The ESP matrix leverages data and analyst insight to identify and rank leading companies in a given technology landscape.
The augmented reality (AR) development kits market focuses on providing software development tools, frameworks, and resources for creating AR applications and experiences. These development kits typically include software libraries, SDKs (software development kits), APIs, and other tools that enable developers to build AR applications for various platforms and devices. AR development kits provide …
Magic Leap named as Leader among 11 other companies, including Niantic, Obsess, and HiScene.
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Research containing Magic Leap
Get data-driven expert analysis from the CB Insights Intelligence Unit.
CB Insights Intelligence Analysts have mentioned Magic Leap in 5 CB Insights research briefs, most recently on Dec 21, 2022.
Expert Collections containing Magic Leap
Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.
Magic Leap is included in 10 Expert Collections, including AR/VR.
This collection includes companies creating hardware and/or software for augmented reality, virtual reality, and mixed reality applications.
Unicorns- Billion Dollar Startups
Wearable computing is broadly defined as companies developing devices worn or placed on the body that are equipped with technology, which can range from wearable medical devices to AR/VR headsets to GPS pet collars.
Smart Home & Consumer Electronics
This Collection includes companies developing smart home devices, wearables, home electronics, and other consumer electronics.
Companies delivering dental care products and services. Excludes practice networks.
Medical Device New Products & Services Tech MM (August 2021)
Magic Leap Patents
Magic Leap has filed 1763 patents.
The 3 most popular patent topics include:
- Mixed reality
- Virtual reality
- Augmented reality
Augmented reality, Mixed reality, Virtual reality, Consumer electronics brands, Mobile phone manufacturers
Augmented reality, Mixed reality, Virtual reality, Consumer electronics brands, Mobile phone manufacturers
Latest Magic Leap News
Jun 6, 2023
Among the features Apple could not show in its presentation were the 3D photos and videos that the headset could capture. In my private demo, I could sit around a fire with friends or have a seat at the table as children blew out birthday candles in uncanny depth. Gene Munster, portfolio manager at Deepwater Asset Management, said this part of the demo blew him away. “3D memories are going to change how we remember things,” he said. “I’m not going to want to take a birthday party video again, unless it’s like that.” Apple proclaimed a “new era” in “spatial computing”, suggesting the Vision Pro could do for AR/VR what the iPhone did to revolutionise mobile computing. Wall Street, however, shrugged. Apple’s stock fell less than 1 per cent after the headset was unveiled with its high price tag that was likely to make it unaffordable to many people. Still, industry experts were taken aback by the headset’s sophistication. “All other VR companies are in deep trouble because Apple has raised the threshold,” said Rony Abovitz, the founder and former chief of Magic Leap, a maker of augmented reality glasses. “They just laid down a gauntlet for companies like HTC and Samsung and Meta to chase. They have surpassed all of them in one shot.” Just days before the demo, I attended AWE, a big conference for mixed reality in Santa Clara, where start-ups showcased all manner of cutting-edge technology that pointed towards a post-smartphone future. But nothing was a must-have, few devices were geared towards consumers and they were not necessarily any cheaper. Magic Leap 2 glasses cost $3,200, while top-end headsets from Finnish group Varjo cost $6,500. I came away thinking this sort of technology had a future, but a distant one. The Apple event changed that. 'They are like heroin addicts, spending more and more money': The US debt ceiling explained Listen | 37:26 Apple succeeded in demonstrating a vision of AR/VR that felt here and now, in stark contrast to the avatar-filled “metaverse” envisioned by Meta chief Mark Zuckerberg. “To many, the metaverse concept sounds and feels too far out, driving a lack of belief of when that will ever materialise,” said Sam Cole, CEO of immersive fitness app FitXR. “What we saw today felt natural, felt obvious, it felt accessible.” Mr Munster from Deepwater Asset Management said he was initially “shocked” by the $3,500 price point and drafted a note to clients emphasising his disappointment. After using it, he conceded his perspective had “totally” changed. “I think it’s priced right,” he said. Analysts pointed out that the headset felt “familiar”. The design of the device has elements of the Apple Watch and AirPods Max headphones, while the visionOS software resembles that of the iPhone and iPad. It is equipped with “Apple silicon” chips, further underscoring how Apple’s push to bring the design and production of many of its components in-house gives it another advantage over rivals. “The thing that immediately grabbed me was the fact that anyone who used an Apple product will have instant familiarity with the device,” said Ben Wood, analyst at CCS Insight. Impressive as it is, though, it is difficult to make the case that any consumer “needs” this device. It was entertaining to watch movie clips, view photos and take a call, and I was surprised by the clarity and comfort of simply reading a pdf document. But Apple still has some big challenges to convince a mainstream audience to invest. Staging thousands of demos to potential consumers at Apple retail stores around the world will prove difficult. But I was unable to find anyone who came away disappointed after trying it. Most testers were wildly enthusiastic. “I saw the presentation and thought it looked good but figured that when we tried it, we’d see the glitches,” said Francisco Jeronimo, analyst at IDC. “But my demo was completely perfect. Everything worked, like the product was ready to hit the stores. I was really impressed.” Mr Jeronimo added that after 20 minutes, he was ready to take it off. Despite Apple’s “EyeSight” tech – which shows the wearer’s eyes to others in real life so the device does not look antisocial – he was not sure he would wear it in a social setting. “Even if the battery lasted all day long, I don’t see people interacting with others in their office, with a screen in front of your eyes,” he said. Some analysts argued that the Vision Pro did not truly offer AR because unlike Magic Leap, for example, the Apple device was immersive – everything was seen through cameras, even the room one was in, instead of digital images overlaid on top of a real-world view. But the semantics of this distinction are unlikely to matter. The latency of the video feed is just 12 milliseconds – eight times faster than the blink of an eye – and your brain will find it difficult to discern the difference between the screen inside the headset and your physical surroundings. During my demo, I conversed with two Apple employees in the same room, and a third appeared in a movable window through a FaceTime call. She was wearing the Vision Pro, but Apple had rendered it invisible so I could see her entire face. Apple calls this a “persona”, which sounds cartoonish, but even when I asked her to dart her eyes back and forth or made her laugh, her reactions were lifelike. To my embarrassment, I even yelped when a dinosaur emerged from the wall in the demo room, recognised my presence and tried to bite my hand. I was told this had happened all day long. Apple also developed proprietary cameras to take 3D videos of sports games and events such as a studio concert, enabling the wearer to feel like the action was directly in front of them. It was impressive enough to wonder if Ticketmaster was about to get disrupted. Disappointment that the headset would not go on sale until “early next year” was palpable. Akash Nigam, CEO of Genies, an avatar tools company, said he was surprised that Apple made little to no attempt to gear the device towards Gen Z consumers. There was nothing about social media or dating apps, for example. But millions of developers now have months to build content. And once they do, Vision Pro’s potential could emerge in ways not even Apple understands. - Copyright The Financial Times Limited 2023 IN THIS SECTION
Magic Leap Frequently Asked Questions (FAQ)
When was Magic Leap founded?
Magic Leap was founded in 2010.
Where is Magic Leap's headquarters?
Magic Leap's headquarters is located at 7500 West Sunrise Boulevard, Plantation.
What is Magic Leap's latest funding round?
Magic Leap's latest funding round is Convertible Note.
How much did Magic Leap raise?
Magic Leap raised a total of $3.934B.
Who are the investors of Magic Leap?
Investors of Magic Leap include Saudi Arabia Public Investment Fund, NTT DoCoMo, AT&T Ventures, Axel Springer Digital Ventures, Fidelity Investments and 23 more.
Who are Magic Leap's competitors?
Competitors of Magic Leap include Xreal, LYNX, Kura Technologies, Lumenora, CastAR and 8 more.
Compare Magic Leap to Competitors
Developer of portable virtual reality (VR) headsets. The company is developing hands-free virtual and augmented reality (AR) based software solutions that aim to target enterprises. The objective is to provide computer vision products, that can solve support solving tasks within the fields of supply chain logistics, repair, maintenance, and drug development.
ThirdEye Gen specializes in Smart Glasses and AR/MR Software Development. Smart Glasses brings about a new era of hands-free human interaction – via directly interacting with surrounding objects through the Internet of Things (IoT) or placing digital info directly into your Field of View.
Varjo develops virtual reality hardware and software. Its products include the XR-1 which is a mixed-reality developer device for engineers, researchers, and designers, and the VR-1 which is a human-eye resolution headset designed for use in complex and demanding industries. The company was founded in 2016 and is based in Helsinki, Finland.
0glass, is a developer of industrial-level AR smart glasses.
Atheer provides Augmented interactive Reality (AiR), combining the power of 3D augmented reality with gesture-based computing interaction to unlock human productivity. Atheer's AiR SmartGlasses are the industry's only mobile, gesture-controlled see-through smart glasses that allow users to view critical workflow information overlaid onto the real world, making it possible for users to interact with data in a natural way and collaborate with their peers. Using the Atheer AiR Platform, independent developers and companies around the world are now creating productivity applications for use across the enterprise.
Dispelix is a manufacturer of high-performance Augmented Reality see-through displays from high-end industrial applications to mass-market consumer products. The displays can even be integrated with the lenses of ordinary glasses.
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