Home / Tech news / Magic Leap raised $1.4 billion using technology that likely won't be in the real product – Business Insider

Magic Leap raised $1.4 billion using technology that likely won't be in the real product – Business Insider


Magic Leap websiteMagic
Leap

Magic Leap, a hot startup last valued at $4.5 billion, raised
$1.4 billion in funding by showcasing a prototype technology that
likely won’t be used in its commercial product, according to
a
report by The Information’s Reed Albergotti
.

The prototype, called “The Beast,” is described as a
“rectangular, shoulder-width” box that let people see
projected images overlaid against the real world by peeking into
it.

Most of its investors, including Kleiner Perkins’ Bing Gordon,
invested in Magic Leap after seeing the Beast, expecting the
commercial product would be downsized to something that looked
like glasses, the report said.

But the report claims that most of the technology used in the
Beast won’t be in the product “now planned for commercial
release,” citing former employees. It says that product won’t use
the same lens, and likely won’t have the “same level of depth” as
the Beast’s.

Magic Leap CEO Romy Abovitz told Albergotti that the prototypes
are “not really what we’re ultimately going to be shipping” but
it was a good way to show people “what was good about it, what
was not.”

The article goes on to describe Magic Leap as going

overboard with its marketing
, overselling its technology and
releasing videos that showed something it wasn’t really
capable of doing yet.

Magic Leap is developing so-called augmented
reality hardware that combines the real world
with computer images, much like the way Microsoft’s Hololens
works.

You
can read the full Information article here>>


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