Tech

Why Magic Leap Is The Hottest VR Startup

By Victor Thomson , Apr 21, 2016 02:24 AM EDT
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Magic Leap, the world's hottest startup, promises to revolutionize the future of virtual reality.

The secretive firm isn't located in Silicon Valey - like most of the tech companies - but in suburban Florida. Magic Leap is a pioneer startup in the field of mixed reality.

Mixed reality or MR consists in virtual reality (VR) overlaid on the real world. In many ways mixed reality is the more powerful of the two technologies because it is more difficult to achieve it that the classic virtual reality.

Of course, Magic Leap is not the only startup developing mixed-reality technology. However, to date, the technology created by Magic Leap allows a quality of virtual visions that exceeds all others, according to Wired.

Because of Magic Leap's lead in the field, many investors are funding the company. Among them are included big names like Google, Kleiner Perkins and Andreessen Horowitz.

According to the same publication, executives from most major tech and media companies have visited Magic Leap's office park in the past year, to experience for themselves its futuristic augmented reality. The company completed at the beginning of this year a round of financing worth $793.5 million.

To date, Magic Leap received impressing funding of $1.4 billion. And all this is even more noteworthy, because the company has not released yet a beta version of its product.

Aside from potential advisers and investors, Magic Leap allowed few people to see its mixed reality gear in action. This combination of mystery and impressive funding has created great curiosity.

On Tuesday, April 19, the secretive Florida-based startup has released some new footage of its system in action, according to Mashable. The video is the most elaborate to date in terms of how Magic Leap's augmented reality technology might have practical use. Among the tools that make an appearance in the footage is Snapchat, even if Magic Leap has not confirmed yet any deal with the company.

Tech analysts expect that the virtual reality technology will become a crucial platform in the near future. In this context, startups like Magic Leap might join the ranks of the largest companies ever created.

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