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Kia Kokalitcheva Feb 11, 2017
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This could be Magic Leap's secret augmented reality device

Not much is known about what Magic Leap, a secretive company working on an augmented reality device and backed by Google, has been building—until now. News site Business Insider has published what it says is a photo of Magic Leap's prototype from early January:

The prototype, reportedly named "PEQo" has been improved since this photo was taken, sources told Business Insider.

Caveat: Magic Leap has declined to comment on the photo to Business Insider, so hasn't been authenticated yet. The company has not yet returned Axios's request for comment.

Why it matters: Magic Leap has raised nearly $1.4 billion in funding and is valued at $4.5 billion, but has yet to reveal what it's been working on. Some scathing reports about the company's inner workings have also come out in the last few months, though it's unclear what exactly is going on at the Florida-based company. Industry watchers are following the company closely now that a wave of fraudulent claims has plagued the tech industry in the past year.