Magic Leap creates an augmented reality (AR) platform specifically designed for businesses. This platform helps companies improve their workflows, increase productivity, and enhance their return on investment (ROI). The AR technology allows teams to collaborate globally as if they were in the same room, provides 3D visualizations for better project reviews, and offers real-time support to workers in the field. Unlike many competitors, Magic Leap focuses on delivering a large field of view in a comfortable design, making it easier for users to engage with the technology. The company's goal is to empower enterprises with tools that can transform their operations and amplify human potential, all while fostering a diverse and inclusive workplace.

NTT DoCoMo

Public Investment Fund (PIF)

Alibaba

Grupo Globo

Janus Henderson Investors

Google

Temasek

T. Rowe Price

EDBI

JP Morgan

Fidelity Investments

Qualcomm Ventures

Alphabet (Google)

Cercano Management

Legendary Entertainment

Obvious Ventures

Kleiner Perkins

Andreessen Horowitz

Warner Bros.

Alibaba Group

Wellington Management

Morgan Stanley

VR & AR

Enterprise Software

Magic Leap

Magic Leap has faced significant hurdles in achieving commercial success.reports suggest that Xiaomi is collaborating with GoerTek to develop a new generation of AI glasses aimed at competing directly with Ray-Ban Meta.The company's struggles have been compounded by internal challenges.

neon sign beach

After completing a master's degree at Columbia University, Tejaswini joined Magic Leap, where she led the vision and strategy for augmented reality products.

Ms. Tejaswini Kumar has won the International Best Researcher of the Year Award in AI

Seattle science-fiction author Neal Stephenson will play a key role in Lamina1’s Artefact collaboration with Weta Workshop. (Photo via Lamina1)A digital content platform inspired by Seattle science-fiction author Neal Stephenson’s vision of the metaverse is collaborating with Weta Workshop, the special-effects company best known for its work on “The Lord of the Rings” movie trilogy, to create a whole new online territory for virtual worlds.Lamina1 says its newly announced project, known as Artefact, will provide a new blueprint for expanding digital content through “immersive experiences that incorporate fan action and input.”“This is more than just a new virtual world — it’s a new way to build worlds,” Stephenson, who co-founded Lamina1 in 2022, said today in a news release. “It’s a promising new way of looking at what we can offer to both creators and their communities. By collaborating with Weta Workshop, we’re forging a new path in digital worldbuilding. Lamina1’s commitment to a creator-driven economy and open metaverse provides a foundation that ensures long-term value and creative quality.”Stephenson and the Weta team plan to begin engaging with creators and fans on the Lamina1 platform this fall. Participants will be invited to unravel the lore behind a mysterious set of “Artefacts” that build upon Stephenson’s works

Lamina1 And Weta Join Forces With Seattle Sci-Fi Author To Create A Virtual Universe

Google is teaming up with Magic Leap to create a new mixed-reality headset, continuing their collaboration despite previous setbacks.

Half of the World's Top 10 Companies Are Developing Metaverse Hardware

Augmented reality (AR) startup Magic Leap reportedly cut 75 jobs on Thursday (July 18) as it reorients its business toward technology licensing.The company’s cuts included its entire sales and marketing departments, Bloomberg reported Friday (July 19).“Magic Leap has been evolving our go-to-market approach to better align with market dynamics and emerging opportunities, optimizing how we support our customers and our ecosystem,” a company spokesperson said in the report. “As part of this, we have consolidated our frontline engagement to our developer support and care teams.”“We will continue to actively support Magic Leap’s customers, developers and our large ecosystem through the Developer Support and Care teams,” the spokesperson said.Since its founding in 2010, Magic Leap has shifted its focus from building an AR headset for consumers, to focusing primarily on business users, to concentrating on technology licensing, according to the report.The company now aims to license its optics technology used in AR headsets, the report said.This report comes about two months after Google formed a partnership with Magic Leap.The companies offered few details about their collaboration, but Reuters reported on May 30 that the partnership is a sign that Google could be planning a return to the market for augmented and virtual reality technology.The partnership would meld Magic Leap’s optics and device manufacturing expertise with Google’s technology platforms, though neither company said whether the partnership is expected to produce a consumer AR device.“We’ve shipped a couple of different versions of augmented reality devices so far, so we’re out there delivering things, and Google has a long history of platforms thinking,” Magic Leap Chief Technology Officer Julie Larson-Green told Reuters at the time. “So, we’re thinking, putting our expertise and their expertise together, there’s lots of things we could end up doing.”In October, Magic Leap appointed Ross Rosenberg as CEO, saying he will drive the next phase of the company’s growth at a time when the enterprise AR market is beginning to merge around specific use cases and verticals.“As companies begin to see the true [return on investment (ROI)] from deploying AR technologies, there is now a clear need state that Magic Leap is capable of solving for,” Rosenberg said at the time in a press release

Magic Leap Cuts 75 Jobs, Shifts Focus To Technology Licensing

Google is forming a partnership with augmented reality (AR) startup Magic Leap.“We’ve shipped a couple of different versions of augmented reality devices so far, so we’re out there delivering things, and Google has a long history of platforms thinking,” Magic Leap Chief Technology Officer Julie Larson-Green told Reuters Thursday (May 30). “So, we’re thinking, putting our expertise and their expertise together, there’s lots of things we could end up doing.”While the companies have offered few details about their collaboration, Reuters reported the partnership is a sign that Google could be planning a return to the market for augmented and virtual reality (VR) technology, spaces otherwise denominated by rivals Apple and Meta.The partnership would meld Florida-based Magic Leap’s optics and device manufacturing expertise with Google’s technology platforms, the report said.Neither company would say whether the partnership is expected to produce a consumer AR device, according to the report.Larson-Green told the news outlet she is particularly eager to work with some of the “cool AI tie-ins” with augmented reality that Google announced at its recent developer conference.While it’s not clear if the partnership will yield a consumer AR device, research has shown consumers do want AR and VR to help improve their shopping experiences.“Immersive technologies such as VR and AR provide consumers with a deeper understanding of products compared to traditional two-dimensional images or descriptions,” PYMNTS reported April 25.For instance, AR lets customers visualize how furniture might look in their homes or how clothing will fit their bodies, thus letting them make more informed purchasing decisions and reducing the likelihood of returns.“Virtual try-on helps to reduce returns because you get the best product, which you like [the most],” Perfect Corp. President and Chief Growth Officer Wayne Liu said in an interview with PYMNTS in February.Immersive shopping experiences can also induce emotions and forge a stronger connection between buyers and brands.“By allowing customers to interact with products in a more meaningful way, retailers can evoke feelings of excitement, satisfaction and confidence, which can positively influence purchase decisions and brand loyalty,” PYMNTS wrote

Report: Google Could Be Inching Back To Augmented Reality

1Magic Leap, Google announce AR partnershipAlphabet’s Google and South Florida-based augmented reality startup Magic Leap are forming a strategic technology partnership and working on building immersive experiences that blend the physical and digital worlds.The announcement adds to signals that Google may be plotting a return to the market for augmented and virtual reality technologies that it so far has largely yielded to rivals Meta and Apple, Reuters reported. Magic Leap and Google both declined to say whether the partnership was expected to yield a consumer AR device, according to Reuters.In a LinkedIN post, Magic Leap CEO Ross Rosenberg said the alliance brings together Magic Leap’s AR expertise and optics leadership together with Google’s technology platforms to collaborate on Extended Reality (XR) solutions and experiences. “Today AR is leveraged by companies to train employees, create spatial consumer experiences, envision and design new buildings and augment medical teams with better ways to visualize patient care. But the transformative potential of AR is endless and this partnership will help to expand immersive experiences, bring more utility and broaden the reach of AR.”Google is an investor in Magic Leap, which is majority owned by Saudi Arabia’s Public Investment Fund. Read more here.2Seaworthy Collective wins grant, announces new platform and moreDaniel Kleinman, CEO of Seaworthy Collective, shared several announcements during the Miami-based nonprofit BlueTech entrepreneur support organization’s Spring 2024 Startup Studio Showcase event.Seaworthy Collective won a Phase 1 grant from NOAA’s Ocean-Based Climate Resilience Accelerators program, and applying for Phase 2, competing to earn $15 million in additional funding.Seaworthy also announced its new platform called The Shoreline for supporting and educating BlueTech entrepreneurs, made possible with the support of the US Small Business Administration’s 2023 Growth Accelerator Fund Competition. The Shoreline launches in August 2024, and pre-registrations are now open.Seaworthy also announced the June launch for the new Miami Dade College Sea Change Maker Fellowship, which will provide at least four students with hands-on education and experience in ocean and climate impact innovation

6+ Things To Know In #Miamitech: News From Magic Leap, Seaworthy Collective, Innovative Solutions, Coworking/Coliving Trends & More

The partnership will also combine Magic Leap's optics and device manufacturing expertise with Google's technology platforms, Magic Leap said.

Google, AR startup Magic Leap partners to build immersive experiences that merge physical and digital worlds

In a significant move that highlights the growing interest in the virtual reality (VR) industry, Saudi Arabia's Public Investment Fund (PIF) has invested

Magic Leap Secures $590 Million Investment from Saudi Arabia's Public Investment Fund, Accelerating Competition in Virtual Reality Industry

1Change at the top of Magic LeapLast week, Magic Leap today announced the appointment of Ross Rosenbergas as the company’s new CEO, effective November 1. Rosenberg will succeed Peggy Johnson, who is stepping down as the company completes its pivot to the enterprise and moves toward expanding commercial adoption of its augmented reality platform technology.Rosenberg is an operating, strategy, and marketing executive who has led the launch, development and acquisition of new technologies, products and services, such as with Bain Capital, Danaher, First Solar and Belden, the company said. Most recently, Rosenberg served as an operating executive in Bain Capital’s software portfolio, where he helped lead the transformation at Rocket Software, a large-scale enterprise IT software company. Rosenberg said he will focus the next phase of Magic Leap’s evolution around solving for the needs and challenges of its target customers.“As companies begin to see true ROI from deploying AR technologies, there is now a clear need state that Magic Leap is capable of solving for,” said Rosenberg, in a statement. “I am incredibly excited to begin working with the world class team at Magic Leap and want to thank Peggy for her leadership in guiding the company through a critical phase of its development.” Johnson assumed the role of CEO in August 2020, succeeding founder Rony Abovitz, with a mission to bring Magic Leap’s transformative technology to enterprise companies, with a focus on designing, manufacturing, and launching Magic Leap 2.  Johnson and the team positioned Magic Leap for its next phase of success including launching Magic Leap 2 and establishing Magic Leap as a technology leader in enterprise AR. Magic Leap has secured collaborations with some of the biggest players in technology including Nvidia, AMD, and Cisco, as well as licensing and contract manufacturing agreements with large technology companies, the company said.“Having accomplished so much of what I set out to do at Magic Leap, I felt the time had come to transition leadership to a new CEO who can guide the company through its next period of growth,” said Johnson, in a statement

8+ Things To Know In #Miamitech: New Magic Leap Ceo Plus News From Endeavor Miami, Miami-Dade County, Papa, Digibee, Pitchbook, Mana Tech, Emerge Americas & More

Augmented reality platform for enterprise solutions

Magic Leap

Augmented reality platform for enterprise solutions

Magic Leap

Augmented reality platform for enterprise solutions

About

Simplify's Take

What believers are saying

What critics are saying

What makes Magic Leap unique

6 month growth

1 year growth

2 year growth

Benefits

Recently Posted Jobs

Magic Leap is Hiring for 0 Jobs on Simplify!