German media firm Axel Springer in the present day introduced that it has taken half in a brand new spherical of financing of Magic Leap. The firm hasn’t disclosed the quantity of the funding, or talked about whether or not different corporations have additionally taken half within the new spherical.
As first reported by Tech Crunch, Axel Springer says their funding in Magic Leap will enable them to “actively take part in revolutionary applied sciences bearing the potential to current journalistic content material and classifieds in new codecs and environments.” Exactly what meaning for Magic Leap’s upcoming AR headset, Magic Leap One, we’re not fully certain. It’s potential the funding will enable Axel Springer’s publications to occupy a premium spot in One’s upcoming app ecosystem – though that’s pure conjecture at this level.
As the biggest digital publishing home in Europe, Axel Springer produces a number of German magazines together with Die Welt and Bild, and on-line publication Business Insider. According to their information report, the corporate posted €3.29 billion in whole income in 2016, and has over 15,000 workers.
Magic Leap most not too long ago accomplished their Series D financing spherical October final yr, taking up $502 million lead by Singapore-based finance agency Temasek Holdings. Not counting no matter sum Alex Springer invested within the firm, Magic Leap has taken on a complete of $1.9 billion in funds.
The Magic Leap One Creator Edition is stated to begin transport in early 2018. No onerous specs or pricing info has been made public right now.
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