Magic Leap Raises $502 Million, Led by Singapore’s Temasek
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Magic Leap Inc., the richly funded startup developing an augmented-reality device, has added more cash to its arsenal, though it has yet to release a product.
The latest funding round of $502 million was led by Temasek Holding Pte., Singapore’s state-owned investment company. Brazil-based Grupo Globo and Janus Henderson Investors also participated, along with Alibaba Group Holding Ltd., Fidelity Investments and other existing investors, Magic Leap said in a statement. This brings total funding for the Florida-based startup to more than $1.8 billion.