Augmented Reality Company Magic Leap Raising $827 Million

According to a report by Forbes, the under-the-radar but much discussed startup is raising a $827 million C round of funding.┬áMagic Leap’s product seems to be a cross between Microsoft HoloLens and the Oculus Rift, shown here in this demo from October:

However, it was this demo back in March that got people pretty stoked about the company:

This brings Magic Leap’s funding to around $1.4 billion. Existing funding came from Google, Qualcomm Ventures, KKR, Vulcan Capital, KPCB, Andreessen Horowitz, Obvious Ventures and others. Google’s Sundar Pichai sits on their board. It’s further proof the reality, the way it is right now, won’t be what we experience in the future. Or near future, depending on who you ask.