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Improbable just raised $502 million to create massive virtual worlds

Improbable, a U.K.-based company that created a system known as SpatialOS for building massively scalable virtual worlds, has raised a $502 million B round of funding, it said today. You’re not misreading that number. That’s Magic Leap dollars, and far more than funding rounds for companies in the virtual reality or augmented reality space like Osterhaut Design Group, NextVR, Unity, and others. The lead investor in the round was SoftBank, and Andreessen Horowitz and Horizon Ventures, which had funded the company’s $20 million A round, also invested.

The company’s technology is designed to scale virtual worlds far beyond what’s been possible before, and it’s already inked a deal with Google to enable developers to build large-scale online games that operate in the cloud. Improbable also says it’s applying its technology to simulate real-world environments and is aiming that at transportation infrastructure, automotive fleets, and telecom networks