Magic Leap has raised $502 million in Series D round led by Temasek with participation from others.
Magic Leap confirms $502 million in Series D round
A post on TechCrunch this week by Megan Rose Dickey revealed that Magic Leap has now confirmed series D round funding of $502 million. Magic Leap is well known for the secrecy around its products as it’s not totally clear what the company is doing, however, it has certainly raised a lot of money in total – more than $1.9 billion to invest in augmented reality and mixed reality.
This week the company announced that it has raised $502 million in Series D round led by Temasek with participation from EDBI, Grupo Globo, Janus Henderson, Alibaba Group, Fidelity Management and others. Magic Leap authorized up to $1 billion in new shares.
“We’re excited to welcome Temasek and the other new investors in this round to the Magic Leap family,” Magic Leap founder and president Rony Abovitz said in a release. “We also greatly appreciate the strong support and partnership from our existing shareholders.”
To date, we’ve been able to gather that the company may be launching a device called “Magic Leap One.” And last month, Bloomberg suggested Magic Leap may be gearing up to ship that device to a “small group of users” in the next six months or so.
We wait with baited breath.