- Magic Leap announced it has raised $350 million according to an internal email sent to staff members
Magic Leap has raised $350 million in funding, according to an internal email sent to staff members by President & CEO Rony Abovitz. And Magic Leap is working on its next headset called the Magic Leap 2.
According to Business Insider, Magic Leap recently laid off half of its staff. And this new round of funding should help the company keep pushing forward.
This round of funding was led by current major investors in the company along with new investors. Some of Magic Leap’s previous investors include Google, Alibaba, NTT Docomo, Warner Bros., and AT&T.
Plus Abovitz said in the email that the company was withdrawing from the conditional WARN notice it sent to its remaining employees on April 22, which is a requirement under the Worker Adjustment and Retraining Notification Act requiring that employees have to provide 60 days of written notice before mass layoffs.
“Closing a financing such as this during the current difficult economic environment is a significant show of belief in our spatial computing mission, vision, and technology. This is also a show of belief in our team’s ability to deliver on our upcoming enterprise market mission, including the deep focus on Magic Leap 2,” explained Abovitz in the email. “We are making very good progress in our healthcare, enterprise, and defense deals. As these deals close, we will be able to announce them.”
