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Magic Leap Secures a Further $502 million in Funding

No news on an actual consumer product yet though.

Whilst it’s ambitions maybe great, augmented reality (AR)/mixed reality (MR) company Magic Leap has yet to publicly showcase what it’s been working on these past few years. It must be interesting as the company has announced that it has raised $502 million USD in Series D equity funding.

Led by Temasek, the round included new investors EDBI – a Singapore-based global fund, Grupo Globo from Brazil, and Janus Henderson Investors, while Alibaba Group, Fidelity Management and Research Company, Google LLC, J.P. Morgan Investment Management, and T. Rowe Price, Inc all returned as existing investors.

“We’re excited to welcome Temasek and the other new investors in this round to the Magic Leap family. We also greatly appreciate the strong support and partnership from our existing shareholders,” said Rony Abovitz, Founder, President and CEO of Magic Leap.

The funding round was first announced back in September with Bloomberg reporting that Magic Leap plans on shipping a small amount of devices to select users within the next six months, supposedly retailing for around $1,500 to $2,000.

Whether that happens of not is anyone’s guess, but with Magic Leap’s rebranded website and online comic book provider Madefire collaborating with the company, there’s certainly a growing assumption that an announcement might not be far away.

Should this happen VRFocus will let you know.

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