Mixed-reality startup Magic Leap secures $502M in funding

Doris Richards
October 18, 2017

It must be interesting as the company has announced that it has raised $502 million Dollars in Series D equity funding.

Singapore-based global fund EDBI, Brazil's Grupo Globo, and Janus Henderson Investors, along with its existing investors including Alibaba Group, Fidelity, Google, JP Morgan Investment Management, and T Rowe Price also participated.

Other partners include Weta Workshop, Peter Jackson's New Zealand-based VFX company, which is producing content for Magic Leap's platform.

This confirms reports last month that said $500 million was in the bag, and now means the company has raised in the region of $1.9 billion.

Founded in 2011 and headquartered in Florida, Magic Leap is operating in Augmented Reality/Virtual Reality/Mixed Reality field.

The company has been less than clear regarding what it's actually doing, only allowing the public to see a prototype and giving clues as to what's to come. According to the company's vaguely worded mission statement, it is aiming "to harmonize people and technology, amplifying the best parts of you, to create a better, more unified world".

At Miami's eMerge Americas conference in June, CEO Rony Abovitz wouldn't say exactly when Magic Leap's first product would launch, what the product was, or what it would cost. There have been many talks about the company and the medium they are working in with creative director Graeme Devine making a keynote speech at this year's Evolve:Brighton conference.

Other reports by Iphone Fresh

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