Magic Leap Raises $793.5 Million Series C Investment to Accelerate Adoption of Secretive AR Tech
Magic Leap today announced the closure of a massive $793.5 million Series C investment led by Alibaba. The company has kept their supposedly revolutionary AR tech under wraps to the public, but seem to have no trouble convincing investors to pour cash into the company.
Magic Leap’s nearly $800 million Series C investment, announced today on their website, comes just 16 months after an equally impressive $524 million Series B investment back in October 2014. The company is now reportedly valued at $4.5 billion, placing it among the most valuable startups in the world.
Chinese e-commerce company Alibaba led the latest investment, with Google Ventures and Qualcomm Ventures following on from the prior round. Also participating in the investment is Warner Bros., Fidelity Management and Research Company, J.P. Morgan Investment Management, Morgan Stanley Investment Management, funds and accounts advised by T. Rowe Price Associates, Inc., and Wellington Management Company.
Magic Leap says that the new capital will advance the timeline of adoption for the company’s AR technology.....
eMagin is my lottery-ticket. They make microdisplays - picture HD TVs hit by Rick Moranis' shrink-ray, a useful size if you want to strap the display to your head. And theirs are OLED - that's organic light emitting diode, which translates roughly as "tiny light emitting ~transistors made of carbon plus some other stuff," which are set up in a pixel array. The common non-OLED alternative to emitting light at each individual pixel is to filter it there instead. Filter what? Luminance from a backlight, a bulky energy hungry thing OLED doesn't need. OLED is the future (at least for a while).
Bear with me as we zoom forward: OLED is very hard, a double-edged sword, big learning curves limit competition, often atrocious yields and high costs, volatile gross margin, most needed equipment entirely custom built (long lead time and uncertain performance); high cost/price displays so 75% of EMAN's ~$30m revenue is military, which continues to fund EMAN R&D ~designed to help them monopolize US military applications and displace only military rival back-light filter based Kopin (NASDAQ:KOPN); military/high-end quasi-monopoly alone justifies legit valuation but a couple of years of financial regress obliterated hope; current market cap
eMagin Inks Licensing Agreement for Immersive Headset Intellectual Property!
WILL displace competing AR/VR display technologies!
Expanding Manufacturing capacity and outsourced fabrication to MEET UPCOMING CONSUMER demand!
Poised for growth in Virtual and Augmented Reality Markets!
OLED required for uncompromised IMMERSIVE experience!
Nausea free operation!
Brightest OLED - 24k NITS!
eMagin's Roadmap to Success - Entertainment - Gaming & VR!
While I don't see it in the presentation today.....didn't initially it call for a social media rollout in 2016?
Hmm....sure a lot of dots to connect, but hell, EMAN has given me plenty of time :)
it's eMagin AMD Global Foundries//Radeon Oculus
"..Officials with Globalfoundries said Nov. 5 that the company had "demonstrated silicon success" on the first AMD products using the 14nm FinFET process technology, and that AMD is now planning to integrate the high-performance, low-power process into multiple products spanning compute and graphics for everything from PCs and data center systems to emerging immersive computing devices..."
"AMD's Polaris architecture-based 14nm FinFET GPUs deliver a remarkable generational jump in power efficiency. Polaris-based GPUs are designed for fluid frame rates in graphics, gaming, VR and multimedia applications running on compelling small form-factor thin and light computer designs....2016 will be a very exciting year for RadeonT fans driven by our Polaris architecture, Radeon Software Crimson Edition and a host of other innovations in the pipeline from our Radeon Technologies Group...The Polaris architecture features AMD's 4th generation Graphics Core Next (GCN) architecture, a next-generation display engine with support for HDMI® 2.0a and DisplayPort 1.3, and next-generation multimedia features including 4K h.265 encoding and decoding".
Brandon Naids, CEO of Talon Simulations:“We integrate the Oculus Rift with our low-cost motion simulators. Using the Rift, we are able to remove bulky external displays and create a more immersive and realistic environment at a more affordable price. It also gives us the ability to easily transition between various entertainment and training applications such as airplanes, cars and roller coasters. My team and I are looking forward to integrating all of the new headsets being released with our motion platforms, including those with OLEDs. We are specifically excited about the developments of eMagin and Immy Inc. and their OLED head-mounted displays. 2016 will be an exciting year for the industry, and Talon Simulations will be there every step of the way.”
Could very well be...the "which helps prevent nausea" may well point to Oculus
eMagin’s OLED microdisplays are the superior choice for the emerging Virtual Reality (VR) and Augmented Reality (AR) markets with features such as their speed (which helps prevent nausea), small size, low power consumption, high brightness and high contrast. These features make eMagin’s microdisplays a better choice than alternative liquid crystal based display technologies like LCOS or LCD.
...suddenly has four times the resolution :)
Andrew G. Sculley, President and CEO, stated, “We are pleased to have consummated this financing. It provides the capital to upgrade our manufacturing equipment, balance our production line and improve our yield. This capacity expansion will position us for growth as we provide our customers the range of products they demand and move ahead in our development of products for the commercial headset market.”
We've been hear forever, waiting for this little gem to grow up and fly. I'm hoping '16 brings us much closer to that day. I don't post much, but still long with a ton of shares bought in those sub $1 days.
Merry Christmas and here's to a healthy, bountiful 2016!!