Not much is known about the start-up company Magic Leap Inc., as it has never become a point of discussion in the mainstream media. But, in an initial funding round for the company organized with aid by Google Inc. (NASDAQ: GOOG), Magic Leap Inc. managed to gather up $542 million in funding from various investors, with Google (NASDAQ: GOOG) being the biggest one.

The funding drive comes months after Magic Leap Inc. first announced having raised $50 million as funds for its operations. In February, it was announced by the company that it was focused on building augmented reality technology for everyone. CEO of Magic Leap Inc., Rony Abovitz, said in a statement that his company’s core mission is “to develop and commercialize.. the most natural and human-friendly wearable computing interface in the world.”

In the round of funding which has just taken place, over $542 million were raised by Magic Leap Inc., largely from direct investment by Google Inc. (NASDAQ: GOOG) Other investors were Qualcomm Inc. (NASDAQ: QCOM), Andreessen Horowitz, Legendary Entertainment as well as KKR.

Google (NASDAQ: GOOG) is the biggest investor in Magic Leap Inc., with its SVP of Chrome, Apps, as well as Android wing, Sundar Pichai, joining the board of Magic Leap. Qualcomm (NASDAQ: QCOM), the second largest investor in this funding round, will also be placing its executive chairman Mr. Paul Jacobs as an observer in the board of Magic Leap Inc.

In February’s funding round, Magic Leap Inc. pledged to utilize funds in the development as well as commercialization of its human interface technology, which the company has titled Cinematic Reality™. The wearable technology is Magic Leap’s primary target, which it hopes to utilize in the development of its augmented reality technology.

A major technological development which Magic Leap is supposedly planning to work on is a wearable device which projects images on human eyes by tracking their movement, according to sources.

Google’s interest in the start-up company does not come as a surprise to anyone. The Android developing company has long been interested in the augmented reality market, trying to incorporate augmented reality into Google (NASDAQ: GOOG) technologies.

Magic Leap Inc. is very confident about its field of operations so far. The company has deemed its technology to be superior to that of its counterparts in the market. According to Magic Leap, the current technology in development at the company is capable of delivering a more detailed, more realistic experience of 3-D, compared to the technologies currently in existence including Oculus Rift, which is a 3-D making headset.

Oculus Rift, as well as all other technology currently present in the market of augmented reality, is only capable of projected a flat and floating object in space, which is visible in the same way to the viewer. Magic Leap’s technology of augmented reality is similar to this projection, but superior; it can project objects in a way which the viewer is able to perceive in 3-D, on top of real world surfaces.

Oculus Rift is currently under the possession of Facebook, which bought it in the first quarter of this year for $2 billion.

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