Magic Leap Raises Another $500+ Million In Series D Funding

by Jamie Feltham • October 18th, 2017

Magic Leap remains shrouded in mystery but continues to impress investors; the company’s just raised another $502 million in a Series D round of funding.

The round was led by Temasek with participation from EDBI, Grupo Globo, Janus Henderson, Alibaba Group, Fidelity Management and others. They join several other high-profile investors including Google, which helped put the company on the map in the first place. Magic Leap is thought to be working on an augmented reality headset similar to Microsoft’s HoloLens that projects virtual images into the real world, though it’s kept its work under wraps from public eyes since being revealed a few years ago.

This is the third biggest round of funding the company has seen, raising $827 million and $794 million in 2015 and 2016 respectively. This extra cash pushes the company’s total investment beyond $2 billion, then. Not bad for a company we still haven’t really seen anything from.

The news falls in line with a recent report that not only suggested the company was looking to raise another $500 million, but was also hoping to ship its first device to a “small group of users” within the next six months for a price between $1,500 to $2,000. While far from confirmation, this does add weight to the rumor that we’ll see the device — named Magic Leap One — by March 2018.

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