Road to VR
JANUARY 3, 2023
Saudi Arabia has taken majority share of the US-based augmented reality company Magic Leap, The Telegraph reports, widening the stake via its state-owned sovereign wealth fund with a deal amounting to $450 million. The investment puts the country’s ownership of Magic Leap over 50 percent, giving it overall majority control.
Road to VR
MAY 22, 2023
The company has raised over $4 billion, with minority investors including Google, Alibaba, Qualcomm, AT&T, and Axel Springer. Its majority stakeholder is Saudi Arabia’s state-owned sovereign wealth fund.
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Road to VR
JULY 7, 2020
A recent $350 million funding round has ensured the company more runway as it no doubt strives to justify its already massive $3 billion funding, which has arrived from sources including Google, Alibaba, Qualcomm, AT&T, Saudi Arabia’s Public Investment Fund, and Axel Springer. Image courtesy Microsoft.
XR Today - Augmented Reality tag
JANUARY 3, 2023
To close 2022, Magic Leap’s leadership team underwent a major restructuring following a significant investment from Saudi Arabia’s sovereign wealth fund. The augmented reality (AR) headset manufacturer gained $450 million from the Saudi Arabian Public Investment Fund (PIF).
Road to VR
MAY 31, 2018
The app will support Gear VR, Oculus Go, PlayStation VR, and Google Cardboard; as with all BBC iPlayer content, it’s likely to be region locked to the UK though. The VR app is said hit the respective app stores closer to the first match, which starts on June 14th with the Russia vs. Saudi Arabia match to kick it off.
Road to VR
MAY 29, 2020
Since its founding in 2011, Magic Leap has amassed over $3 billion in capital from investors such as Google, Saudi Arabia’s Venture Capital Fund, Alibaba, and Axel Springer, making it one of the most well-funded startups in tech history.
XROM
AUGUST 3, 2022
Mather (2016 Nobel Prize in Physics), Ray Kurzweil (Director of Engineering at Google and cofounder of Singularity University), and robot Sophia (probably the most famous humanoid robot, which received citizenship in Saudi Arabia in 2017). Among the previous major keynote speakers can be mentioned John C.
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