The online world is now next to reality; thanks to an unprecedentedly disruptive pandemic. With the Internet—which would most certainly be operational even when the world ceases to exist—it’s relevantly easier to share, access, and preserve information about almost anything.
Yet, not everyone is keen on “leveraging” the web by latching their info on to the next most related Google search.
Does the name Magic Leap ring a bell? It probably doesn’t. Not only because it’s an American startup operating in an industry as newfangled and vast as Augmented Reality (AR), but also as a result of the proprietary wearable technology’s habit of hushing up company information.
Though operationally quiet, Magic Leap is the one Florida-based startup that single-handedly raised over USD 2.6 Bn across nine funding rounds.
Apart from being backed by distinguished companies like Google and Alibaba, Magic Leap is valued at USD 450 Mn—though down from a USD 6.7 Bn pith in April 2019. It was only a few years back, through funding announcements, that the company started stepping into the light.
Before then, there was absolutely no Google search about Leap that came back with encompassing deets of the company’s movements. The point? Startup stealth, a widely debated yet adopted venture-building culture.
While it’s a relatively patronized startupping practice elsewhere, venture secrecy or startup stealth isn’t yet a popular practice in Africa’s tech ecosystem. While press coverage for the continent’s early-stage innovation scene becomes more far-reaching than the efforts of the yesteryears, there are however a few tech-driven startups that prefer striding under the counter.