Magic Leap's business strategy to mainstream Augmented Reality became even more apparent in the recent round of financing.
On Friday, the company announced that it has received funding of $ 280 million from NTT Docomo, the largest mobile operator in the United Kingdom.
"Docomo is proud to offer new and unprecedented value-added services to our customers and partners through our partnership with Magic Leap," said Kazuhiro Yoshizawa, president and chief executive officer of NTT Docomo, in a statement . "Docomo aims to help shape advanced MR services and market X R by leveraging Open Innovation and combining innovative technologies such as Spatial Computing provided by Magic Leap with Docomos Assets including our 5G network and 70, to expand millions of member bases. "
This is the third telecom partnership with Magic Leap. NTT DoCoMo joins AT & T and South Korea's SK Telecom.
Although Magic Leap has begun to make its headsets available at AT & T's AT & T stores and online store, its strategy is more forward-looking as a showcase for the near-future 5G wireless speed. In addition to the massive cash infusion, the company's latest move partially reflects its AT & T partnership as Magic Leap will also use NTT Docomo's large Japanese companies to generate content and apps for its devices.
"The partnership between Magic Leap and Docomo combines the power of geospatial intelligence with Japan's leading mobile operator to create radical innovations for co-presence, communications, commerce, productivity, sports, media and entertainment," said Rony Abovitz, Founder and CEO CEO of Magic Leap. "With Docomos developing the power of its network and technology for tens of millions of customers, the partnership with Magic Leap will help provide capabilities and experiences that were never thought possible."
If there is anything other than Magic Augts, except Augmented Reality really really good, it will raise funds. Magic Leap had already raised $ 2.3 billion in funding during its relatively short lifetime. The company said the New York Times also plans to reopen the Series D round of financing after recently drawing controversial Saudia by $ 461 million Arabia PIF Fund.
And while Magic Leap is already well-funded, it will need this important finance arsenal if it wants to take over the 900-pound gorilla Microsoft and its new HoloLens 2 and the alleged Apple-wearable AR