Magic Leap of Hollywood raises $50 million in funding

 

Magic Leap, a Hollywood-based company developing wearable technology and a product it calls "Cinematic Reality," announced this week that it closed a venture capital round and has now raised more than $50 million to develop its proprietary technology platform. Few details were released, including who led the investment.

Rony Abovitz, Magic Leap's co-founder, president and CEO, was also vague on product details, but on Friday said: “Cinematic Reality is a new medium for human visual/sensory interaction with the digital world...We are working on some things that we believe are groundbreaking and revolutionary in terms of human-computing interaction -- something that is very friendly and organic to the normal workings of human biology."

Prior to launching Magic Leap in 2011, Abovitz was the co-founder and head of development and technology for MAKO Surgical, a Davie-based manufacturer of robotic surgery tools that was recently acquired by Stryker Corp. for $1.65 billion. On Magic Leap’s board of directors and listed as a co-founder is Academy Award winner Richard Taylor, founder of Weta Workshop, a design studio/manufacturing facilily that has worked on The Hobbit, Man of Steel, Lord of the Rings Trilogy, Avatar and other movies.

Nancy Dahlberg

Read more Business stories from the Miami Herald

  •  
Jacinto Garrido’s mother died in 2010. Garrido filed a complaint against her doctor.

    Healthcare

    State seeks harsher penalty against Miami physician

    Department of Health officials intend to appeal a final order by the state Board of Medicine, which in June voted to revoke a Miami physician’s license — then minutes later reversed its ruling and reduced the penalty.

  •  
Aeromexico will add a fourth weekly flight between Miami and Merida starting Nov. 8

    Aeromexico adds fourth weekly Miami-Merida flight

    Aeromexico announced this week that it will add a fourth weekly flight between Miami and Merida, the capital of the state of Yucatan, this fall.

  • Memorial Regional Hospital’s heart program accredited

    Memorial Regional Hospital in Hollywood recently earned certification from The Joint Commission, the nation’s largest healthcare accrediting group, for a cardiac therapy program designed to treat patients with end-stage heart failure who are not eligible for a transplant — making Memorial the first hospital in Broward County to receive the designation.

Miami Herald

Join the
Discussion

The Miami Herald is pleased to provide this opportunity to share information, experiences and observations about what's in the news. Some of the comments may be reprinted elsewhere on the site or in the newspaper. We encourage lively, open debate on the issues of the day, and ask that you refrain from profanity, hate speech, personal comments and remarks that are off point. Thank you for taking the time to offer your thoughts.

The Miami Herald uses Facebook's commenting system. You need to log in with a Facebook account in order to comment. If you have questions about commenting with your Facebook account, click here.

Have a news tip? You can send it anonymously. Click here to send us your tip - or - consider joining the Public Insight Network and become a source for The Miami Herald and el Nuevo Herald.

Hide Comments

This affects comments on all stories.

Cancel OK

  • Marketplace

Today's Circulars

  • Quick Job Search

Enter Keyword(s) Enter City Select a State Select a Category