Magic Leap Inc was able to raise $50 million for its first funding round, VentureBeat reported. While what the company really does is not yet certain, the report said it's certainly into "some hardcore science-fiction type stuff" involving ultra-sensory perception, human computing interfaces and wearable technology.

Proceeds from the most recent round will go towards advancing the company's product development and commercialization of its technology called Cinematic Reality. VentureBeat surmises that it the proprietary technology looks like a type of immersive virtual reality device.

Rony Abovitz founded Magic Leap Inc in 2011 together with "a few wizards and inspired friendship from Sir Richard Taylor, co-founder of Weta Workshop." Abovitz co-founded MAKO Surgical which was purchased by Stryker Corp in December last year in a $1.65 billion deal. MAKO Surgical is a public firm that constructs human-interactive robots for orthopedic surgery purposes.

In a statement about the recent funding round, Abovitz said, "Magic Leap's mission is to develop and commercialize what we believe will be the most natural and human-friendly wearable computing interface in the world. What is remarkable is how well the human body and mind respond when technology respects biology, so truly magical experiences become possible. In this new world of the intimate relationship between computing and human sensory systems, Magic Leap is bending its proprietary technology to meet the very human needs of our future users and co-creators. Our technology exists to unlock the creative spark found in all of us."

Magic Leap is collaborating with Taylor's visual effects studio Weta Workshop. The studio, which has won Academy Awards, has had a hand on films like The Hobbit, Elysium, Prometheus and Avengers. Richard Taylor now sits on the Board of Directors of Magic Leap.

In the statement, Taylor said, "The Magic Leap team has created something truly game changing. It is like a rocket ship for the mind."