NTT Docomo invested $280 million in mixed reality (MR) headset maker Magic Leap, as part of a partnership the operator hopes will enable it to add value to its 5G services.
The two will promote the development of MR content in Japan through Docomo’s 5G partners. In addition, the operator will acquire distribution rights for devices Magic Leap plans to offer in the country in the future, Docomo said in a statement.
Prior to the operator’s investment, Magic Leap had already raised $2.3 billion, The New York Times (NYT) reported. The company plans to reopen its most recent fundraising round to further boost its coffers, the newspaper said.
Magic Leap is now one of the best-funded start-ups, NYT stated, though it faces competition from Microsoft, which makes the HoloLens.
The newspaper also noted the Docomo partnership would enable Magic Leap to use an upcoming gigabit high-speed internet service from the operator to develop MR applications.
Rony Abovitz, Magic Leap’s founder and CEO, told NYT Docomo is a forward looking company and the deal is “quite transformational for us and for the country”.
Magic Leap has partnered with operators in the past. In July 2018, it signed an exclusive deal with AT&T, making it the only US operator to offer the company’s headset.Subscribe to our daily newsletter Back