Virtual-reality headsets block out the real world and transport them into a digitally created one. But what if the digital stuff could simply pop into people's normal view of the reality?
That's the goal of a Florida company that said Tuesday it has raised $542 million in investment because of Hollywood's -- and the tech industry's -- fascination with virtual-reality technology.
The amount is stunning for a company that hasn't tested its product publicly or released details about it, but Magic Leap Inc. has been more forthcoming to industry leaders. Investors in Magic Leap, which has an office in Los Angeles, include film producer Legendary Entertainment, its Chief Executive Thomas Tull, Google Inc., Qualcomm Ventures, KKR, Vulcan Capital and Obvious Ventures, a firm founded by Twitter's cofounders. Silicon Valley venture capital giants Andreessen Horowitz and Kleiner Perkins Caufield & Byers were also involved.