Japanese mobile operator DOCOMO invests $280 million in Magic Leap
Companies involved
April 29th, 2019 investment Magic Leap
NTT DoCoMo $280m
April 29th, 2019 - 12:27pm
Mixed reality start-up Magic Leap has raised yet more funds after receiving a $280 million investment from Japanese telecoms giant NTT DOCOMO.
This puts Magic Leap's funding to date at around $2.6 billion, having already raised $2.3 billion across multiple investment rounds.
5G boost
The deal between Magic Leap and DOCOMO will also see the mobile operator become the exclusive telecommunications partner for the tech in Japan.
Both companies plan to create an immersive media platform utilising the mixed reality tech and 5G, though no specifics were provided. Magic Leap's software operating system will also be customised for the Japanese market.
"DOCOMO is proud to offer new value-added services never experienced before to our customers and partners through our partnership with Magic Leap," said NTT DOCOMO CEO Kazuhiro Yoshizawa.
"DOCOMO aims to co-create advanced MR services and expand the XR market by leveraging open innovation and combining innovative technologies such as Spatial Computing provided by Magic Leap with DOCOMO's assets including our 5G network and 70 million membership base."
DOCOMO has been busy signing partnerships with technology companies of late as it lays the groundwork for its 5G service. It previously signed a deal with games streaming service Hatch to help stream its games in Japan.
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