Nreal changes company name, amid magic leap legal battle unknown Chinese parent company revealed

Something fishy is going on as the magic leap is looking to sell itself off after a rough couple of years following the launch of its Magic leap 1 augmented reality device.
Now, in a new filing with the courts in its legal battle with Magic Leap, the company has revealed a sudden name change, as well as the involvement of a previously unknown parent company.
Now, as Magic Leap has pointed its legal arsenal at “chi xu” and his company, it is expected that some of the unanswered questions will be answered.

About Xu’s path and how Nreal came to be.
1. In 2003 – 2007 Xu attends Zhejiang University and earns a degree in electrical computer engineering.

2. In 2007 – 2014 Xu earns a Ph.D. in electrical computer engineering from the University of Minnesota-Twin Cities, located in Minneapolis, Minnesota.
3. In 2008 Xu spends about five months working as a research assistant at North-western University.
4. In 2009 Xu fulfils a similar research assistant role at the University of Michigan.
5. In 2010 – 2014 Xu serves as a research assistant for about four years at the University of Minnesota.

In 2017 Xu launched Nreal also known as Hangzhou Tairuo technology Company. In 2018 an early version of the Nreal device, a pair of glasses attached to a laptop, is shown off at the AWE conference. It’s bulky and only demonstrates the ability to watch two-dimensional content in augmented reality.
Currently, Nreal, initially operating under the corporate name Hangzhou Tairuo, is defending itself against a lawsuit from Florida-based augmented reality start-up Magic Leap. Magic Leap claims that Nreal co-founder Chi Xu used trade secrets acquired while working at the company back in 2015 to help launch the Nreal device as an augmented reality competitor.

The two companies have been communicating behind the scenes to resolve the case before their scheduled court meeting in June, with what appears to be limited effectiveness. However, a new filing entered by the Nreal team roughly 11 days ago has revealed that a previously unknown company called Beijing Unicorn Technology Co., Ltd. is the parent of Hangzhou Tairuo, the company producing the Nreal Light.
Currently, Nreal, initially operating under the corporate name Hangzhou Tairuo, is defending itself against a lawsuit from Florida-based augmented reality start-up Magic Leap. Magic Leap claims that Nreal co-founder Chi Xu used trade secrets acquired while working at the company back in 2015 to help launch the Nreal device as an augmented reality competitor. The two companies have been communicating behind the scenes to resolve the case before their scheduled court meeting in June, with what appears to be limited effectiveness. However, a new filing entered by the Nreal team roughly 11 days ago has revealed that a previously unknown company called Beijing Unicorn Technology Co., Ltd. is the parent of Hangzhou Tairuo, the company producing the Nreal Light.

It’s unclear whether Beijing Unicorn Technology was the Nreal parent company all along, or if this is a new/recent business relationship. Similarly, it has been challenging to uncover much information about China-based Beijing Unicorn Technology and its prior interests. Although the company is listed on a wearable augmented reality device patent document filed in December, which lists Nreal’s Chi Xu as one of the inventors.

N.B: All images are property of the creator of the movie along with the characters, we are just writing review of the movie.