Who’s the Chinese investor pumping USD 5 M into AR maker Magic Leap?

A mysterious Chinese investor pumped a large investment into the world’s leading AR maker Magic Leap, this week, as an important strategic approach.

Enjoyor Co., Ltd., the Chinese smart city solution provider, announced on Tuesday that it will invest USD five million in shares of Magic Leap, which has raised USD 1.39 billion in previous financing rounds.

The five-year old Florida-based Magic Leap is backed by famous investors including Google, Morgan Stanley, and Alibaba.

Its new Chinese investor Enjoyor is based in the coastal Chinese city of Hangzhou. It provides smart city solutions based on big data, wearable devices, and cloud computing. Founded in 1992, the company got listed on ChiNext, China’s newest stock exchange in Shenzhen.

Enjoyer's transportation management system. (Photo from http://www.enjoyor.net)
Enjoyer’s transportation management system. (Photo from http://www.enjoyor.net)

Enjoyor said that a direct investment in Magic Leap would boost business cooperation between the two parties; it would use Magic Leap’s AR products in its smart city solutions, and that the two parties would cooperate in R&D and market integration.

The investment in Magic Leap reflects Enjoyor’s strategy concerning AR/VR, to which Enjoyor said it had paid continuous attention.

In March, Enjoyor joined two other investors to invest a few million USD in a Series A financing of Immersion Technologies Co., Ltd., a Hangzhou-based VR startup.

(Top photo from Baidu Images)

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Wang Hongzhi

Wang is a contributor at ATA. She is passionate about literature, photography and technology. She graduated from Shanghai University of International Business and Economics.

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