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Disclaimer: This story was originally published on May 31, 2024.

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Google has struck a partnership deal with Florida-based startup Magic Leap to develop augmented and virtual reality-related solutions for more immersive experiences amid its push in the space.

“By combining efforts, we can foster the future of the [extended reality] ecosystem with unique and innovative product offerings,” Shahram Izadi, vice president and general manager of AR/XR at Google, said in a May 30 announcement.

Izadi explained that Google will combine its existing technologies with Magic Leap’s “leadership in optics and manufacturing” to bring a wider range of immersive experiences to market.

Meanwhile, Magic Leap’s chief technology officer, Julie Larson-Green, said the partnership will speed up the development of AR and advance immersive experiences for developers and customers, adding:

“We are looking forward to expanding the potential of [extended reality], blending the physical world with valuable, contextually relevant solutions.” 

The announcement, however, did not confirm whether or not the partnership would result in a consumer AR device.

Magic Leap is an optics and manufacturing company for AR experiences. It claims that its expertise produces “highly precise eyepieces with incredibly high yield rates and quality at scale.”

In January, the company raised $590 million in debt funding from Saudi Arabia’s Public Investment Fund, which holds the majority stake in the business. Earlier funding rounds include a $1.3 billion Series D in April 2019 at a $6.7 billion post-money valuation and a $542 million raise in October 2014 at a $2 billion valuation.

Previous funding rounds include a $1.3 billion in Series D in April 2019, resulting in a $6.7 billion valuation. In an earlier round in October 2014, the company raised $542 million, valuing the company at $2 billion after the investment.

The latest partnership comes as Google ramps up its AR/VR initiatives to rival fellow Big Techs Apple and Meta. Just last year, it collaborated with Samsung and telco firm Qualcomm to develop mixed reality technologies.