Startup Magic Leap raises US$500 mln in new funding

Cornelia Mascio
Ottobre 18, 2017

Allen & Company LLC served as exclusive financial advisor to Magic Leap in connection with the transaction.

Magic Leap, a well-funded and secretive startup, said on Tuesday it has raised US$502 million in a new capital funding round led by Temasek Holdings, an investment firm owned by the government of Singapore, Reuters reports.

It's still not totally clear what Magic Leap is doing, but it sure has raised a ton of money (over $1.9 billion) in order to do whatever it is that it's doing.

New Magic Leap investors include EDBI, the investment arm of the Singapore Economic Development Board; Grupo Globo from Brazil; and Janus Henderson Investors. Under the pact, the companies formed a joint research lab at Lucasfilm's San Francisco campus to develop new forms of storytelling in an AR environment. In other words, with the exception of a bulky, primitive-looking prototype, whatever Magic Leap is making remains a secret-unlike Microsoft's virtual-reality headset, the HoloLens, which is already available, Florida-based Magic Leap's product is reportedly still years from the market. Headquartered in Plantation, Fla., Magic Leap also has locations in Los Angeles, Sunnyvale, Seattle, Austin, Dallas, Zurich, New Zealand, and Israel.

Magic Leap's mission is to harmonize people and technology, amplifying the best parts of you, to create a better, more unified world.

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