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Magic Leap has apparently raised another $350 million, in spite of itself

Magic Leap has reportedly received a $ 350 million lifeline, a month after flogging 1,000 jobs and throw its customer business. Noted by Business Insider and confirmed by The Information, CEO Rony Abovitz sent a indicate to personnel announcing the funding required, courtesy of unnamed current and brand-new investors.

The who — and more importantly, why — isn’t clear. A key healthcare busines may be involved. Whatever the suit, the company is withdrawing the WARN notice( a 60 -day notification for large-scale layoffs) sent to staff in late April. The move represents an apparent reversal of the big layoff round it previously announced.

In spite of the conversion, it seems that the lavishly money augmented actuality busines still plans to turn all of its focus to the enterprise, as previously announced — a move that introduces it in more direct competition with the likes of Microsoft’s HoloLens.

Magic Leap apparently trounces 1,000 jobs and steps away from consumer strategy

“We are drawing very good progress in our healthcare, enterprise, and defense spates, ” Abovitz writes. “As these distributes close, we will be able to announce them.”

Magic Leap quoth COVID-1 9 as a key ground for April’s news. But the company wasn’t accurately the picture of consumer hardware success prior to the shutdown. In spite of raising an eye-popping $2.6 billion across nine rounds, the company’s early days were defined far more by publicity than public progress. After years of teaser videos, its first device ultimately left much to be hoped.

We’re reached out to the company for explain.

Read more: feedproxy.google.com

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