Feb 24, 2018 8

Axel Springer Fund the Magic Leap Technology in its Latest Round of Funding

Magic Leap has recently added Axel Springer to its list of already existing high profile investors.

Axel Springer, which is a Berlin-based digital publishing house announced today that it had invested an undisclosed sum of money in the Google funded augmented reality startup that recently revealed its AR tech after must anticipation and mystery.

The company released a press statement that stated that it was looking to, “actively participate in the development of technologies that present journalistic content and classifieds in new formats and environments.”

Magic Leap has been working on its Augmented Reality technology since 2014 that projects virtual content in real spaces. This could have potential application in the domain of journalism however much of what can be achieved is yet to be seen.

If we factor in investments made earlier by Google, Qualcomm and Warner Bros, Magic Leap has raised nearly $2 billion since inception due to which it has always been at the centre of attention.

After much anticipation the company released its first generation AR headset called the Magic Leap One in the forth quarter of last year. The device will be shipping to developers and early adopters in 2018.