- General
- April 26, 2019
- 4 minutes read
Magic Leap Raises $280 Million From Japan’s Docomo
Magic Leap CEO Rony Abovitz Photograph by Kevin Moloney / Fortune Brainstorm Tech Magic Leap has raised $280 million in…
Magic Leap CEO Rony Abovitz
Photograph by Kevin Moloney / Fortune Brainstorm Tech
|
Magic Leap has raised $280 million in funding from NTT Docomo, Japan’s largest mobile operator, and partnered with the company for use of its products in Japan. Docomo will be the exclusive telecom partner of Magic Leap in the country and work together with the company to create a media platform that’ll utilise Magic Leap devices and Docomo’s planned 5G network.
Magic Leap and Docomo will also collaborate to customize the AR device manufacturer’s operating system for the Japanese market. Magic Leap is getting access to Docomo’s 70 million customer base as part of this partnership. The company says the partnership also furthers the realization of “Magicverse”, its planned virtual world that harnesses the field of augmented reality.
Magic Leap chief marketing officer, Brian Wallace
Photograph by Kevin Moloney / Fortune Brainstorm Tech
|
Magic Leap has now raised $2.6 billion in total funding according to Crunchbase data. Other notable investors in the company include Google, Alibaba, Fidelity, Grupo Globo, Vulcan Capital, Obvious Ventures, Andreessen Horowitz, Kleiner Perkins, KKR, Qualcomm Ventures, and Legendary Entertainment.
Magic Leap also has an impressive board that includes Google CEO Sundar Pichai, Google executive Don Harrison, and Qualcomm chairman Paul E. Jacobs.