Magic Leap announces $502M in funding, $2.3B valuation, and 6-year roadmap.

Magic Leap has resurrected itself, albeit briefly, with a $2 billion valuation. When you thought Magic Leap had been relegated to the graveyard of failed AR headsets, the firm revealed today that it has raised another $500 million at a $2 billion valuation.

According to CNBC, the device will be called the Magic Leap 2 and will be a “true all-day” gadget. In renders and video clips of the device, it appears to be considerably smaller and lighter than the original headset.

During an interview with Fortune, Magic Leap CEO Rony Abovitz did not specify pricing details, but he did indicate that the new headset would be an enterprise-focused device. Johnson referred to surgeons, the military, and manufacturing as target audiences.

“This investment is a critical step toward Magic Leap’s goal to revolutionize how we work,” Johnson added in the funding announcement.

This is a tried-and-true progression. The most popular augmented reality headsets now are all geared toward business, including Microsoft’s HoloLens 2 and Google Glass Enterprise Edition 2. It’s also a bit of a turnaround for Magic Leap during the epidemic, given Johnson’s involvement last summer.

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According to numerous sources, the Magic Leap 2 will be available in early 2020. A ‘early access program’ is also now underway, according to reports.