German media company Axel Springer today announced that it has taken part in a new round of financing of Magic Leap. The company hasn’t disclosed the amount of the investment, or mentioned whether other companies have also taken part in the new round.

As first reported by Tech Crunch, Axel Springer says their investment in Magic Leap will allow them to “actively participate in innovative technologies bearing the potential to present journalistic content and classifieds in new formats and environments.” Exactly what that means for Magic Leap’s upcoming AR headset, Magic Leap One, we’re not entirely sure. It’s possible the investment will allow Axel Springer’s publications to occupy a premium spot in One’s upcoming app ecosystem – although that’s pure conjecture at this point.

As the largest digital publishing house in Europe, Axel Springer produces several German magazines including Die Welt and Bild, and online publication Business Insider. According to their data report, the company posted €3.29 billion in total revenue in 2016, and has over 15,000 employees.

Image courtesy Magic Leap

Magic Leap most recently completed their Series D financing round October last year, taking on $502 million lead by Singapore-based finance firm Temasek Holdings. Not counting whatever sum Alex Springer invested in the company, Magic Leap has taken on a total of $1.9 billion in funds.

The Magic Leap One Creator Edition is said to start shipping in early 2018. No hard specs or pricing information has been made public at this time.

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Well before the first modern XR products hit the market, Scott recognized the potential of the technology and set out to understand and document its growth. He has been professionally reporting on the space for nearly a decade as Editor at Road to VR, authoring more than 3,500 articles on the topic. Scott brings that seasoned insight to his reporting from major industry events across the globe.
  • NooYawker

    For a second I thought they said Magic Leap posted 3.2 Billion Euros in revenue.

    I was going to add something disparaging but… no need.

  • trekkie

    When ???

  • Alex Butera

    Am I wrong or is Magic Leap setting itself up as the startup with most funding ever received before an actual public product release?

    • Zachary Scott Dickerson

      Pretty much, it’s all research and no development. If the tech is not ready, then it will be a huge waste of money.

  • Foreign Devil

    I’m guessing Magic Leap won’t actually release a consumer product but be bought out instead by Apple or Google at some point.

    • Leslie

      Google paying you 98 dollars per-hr to complete few task on the laptop . Work Some few hours daily and have more time with your loved ones . any individual can benefit this online service!last Saturday I purchased a latest Fiat Panda after just making $12659 this-past/six weeks .it is my favourite-job but you could not forgive yourself if you do not read this.!qg482b:➵➵➵ http://GoogleTradeBusinessOpportunity/earn/cash/$97/everyhour ♥u♥♥♥x♥♥♥l♥♥b♥r♥♥p♥y♥♥♥x♥♥t♥c♥i♥j♥♥♥f♥♥♥a♥o♥♥v♥♥♥c♥y♥l♥♥♥b♥♥♥w♥v♥♥♥r♥♥♥d♥u::::!fg50o:rvvcytr

  • WyrdestGeek

    The crickets… they are a-chirping…

  • brubble

    This thing is still around?

  • Jad

    Wow. Dead for me now. Springer is the most disgusting, toxic media company right after Fox.