The recent round of venture capital financing by a bold new Augmented Reality company. Would this be a good topic to write about here at the Information Age? You certainly bet yes, as this new Information Technology (IT) field promises to revolutionize a broad set of industries. It is somewhat related with the fields of Artificial Intelligence, a topic already spoken of here.
This event is from Magic Leap, a misterious and secretive augmented reality venture launched in Florida, US. I recommend followers to read the New York Times’ business article in Dealbook about the round of venture capital financing raised by Magic Leap this past Tuesday, not least for the dimension of the amount funnelled to the company – a whooppy $793 million dollars, it is hard to believe for a round of financing – but also because it represents a kind of avalanche moment in a series of similar events surrounding these fields of technology, that have been happening with the commitment of the likes of Facebook, Google, Apple and Amazon, etc…
The round comes during a race to discover and create the next breakout platform for consumers, which many of the world’s largest tech companies think will be some form of virtual reality.
In 2014 Facebookpaid $2 billion for Oculus, a virtual reality company that plans to ship its first headsets to consumers in the coming weeks. Microsofthas been working on Hololens, and Apple is reportedly at work on its own efforts.
But Magic Leap has drawn attention for the prominent investors it has attracted — Google, Fidelity Investments and Warner Brothers, among others — despite being almost completely closed off from showing the public any of its products. Only occasionally do the founders pop up to give interviews.
This most recent round was led by Alibaba, the large Chinese e-commerce company, with participation from new investors including J.P. Morgan Investment Management, Morgan Stanley Investment Management and T. Rowe Price Associates. Magic Leap has raised more than $1 billion in funding to date.
I am inclined to believe that this field, with its broad scientific and technological scope will have a bright future. Its spans Mathematical Optimization, Mathematical Physics, Robotics, Neuroscience and Scientific Computing, just to name the all emcompassing ones.
This kind of aura is unmistakenly a sign of great things to come.
Featured Image: Magic Leap