Magic Leap Raises Half a Billion Dollars in Latest Funding Round

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Mixed and augmented reality start-up Magic Leap has announced that it has raised another $502 million in its Series D round of funding. Temasek leads the investment round, with further contributions from EDBI, Grupo Globo, Janus Henderson, Alibaba Group and Fidelity Management.

This brings Magic Leap up to $1.9 billion in investments. Exactly what Magic Leap is doing with the money is a closely-guarded secret, but Bloomberg has reported on rumours that a device called Magic Leap One may be launching to “a small group of users” in the next six months.

Analyst Comment

I must say that I’m amazed that Magic Leap is still managing to attract additional investors. With so much already committed, I would have thought that the firm could have shown or shipped something! Still, they must have some impressive demos. (BR)