Magic Leap demo of the solar system.
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Why does Magic Leap need another $827M?

  • Posted byby Dean Takahashi
  • Updated
  • 4 min

Augmented reality startup Magic Leap is reportedly raising $827 million in a third round of funding, according to Forbes.

If it succeeds, it will be a strong signal of investor confidence in the fledgling technology, which can overlay animated imagery on the real world using glasses with special displays. Augmented reality is expected to become a $120 billion market by 2020, according to tech adviser Digi-Capital.

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Written by

Dean Takahashi

Dean Takahashi is editorial director for GamesBeat. He has been a tech journalist since 1988, and he has covered games as a beat since 1996. He was lead writer for GamesBeat at VentureBeat from 2008 to April 2025. Prior to that, he wrote for the San Jose Mercury News, the Red Herring, the Wall Street Journal, the Los Angeles Times, and the Dallas Times-Herald. He is the author of two books, "Opening the Xbox" and "The Xbox 360 Uncloaked." He organizes the annual GamesBeat Next, GamesBeat Summit and GamesBeat Insider Series: Hollywood and Games conferences and is a frequent speaker at gaming and tech events. He lives in the San Francisco Bay Area.