News: Magic Leap Lands a New Investor from Europe's Media Sector

Magic Leap Lands a New Investor from Europe's Media Sector

On Monday, German newspaper and digital publisher Axel Springer announced its role as the latest company to invest in Magic Leap. This is just the latest in a series of investments the augmented reality company has garnered from the likes of Google, Qualcomm, Alibaba, Legendary Entertainment, Warner Bros., and others amounting to almost $2 billion in overall funding.

However, in this case, Axel Springer hasn't revealed exactly how much it's investing in the cutting edge startup.

"Axel Springer Digital Ventures participated in a round of financing of Magic Leap," read a statement on the company's website. "With investments in companies like Magic Leap, actively participate in innovative technologies bearing the potential to present journalistic content and classifieds in new formats and environments."

Most of the demonstrations of Magic Leap have been via visualizations of entertainment, shopping, and messaging content. But if Axel Springer's message is any indication, it looks like there will also be the an option to read news though the headset, something that isn't particularly practical on any AR at present.

The news comes just days after Magic Leap CEO Rony Abovitz offered up yet another one of his now common information teases, taking to Twitter on Friday to write, "Fun @magicleap news next week," followed by three sunglasses emoji.

Since Magic Leap has already revealed the name and look of its product, the Magic Leap One: Creator Edition, the only thing left is to tell us what the price and release date will be. This could be the week we find out everything we need to know, stay tuned.

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Cover image via Magic Leap

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