Magic Leap raised $502 million led by Temasek Holdings

Magic Leap raised a US$502 million Series D funding led by Temasek Holdings. The Florida-based startup, which gets good funding and secrecy, said on Tuesday it has amassed a new investment led by an investment firm owned by the Singapore government.

Tinuku Magic Leap raised $502 million led by Temasek Holdings

Magic Leap said Singapore's EDBI, Brazil's Grupo Globo and Janus Henderson Investors included investors in this new funding to prepare a headset debut with augmented reality technology.

The startup earlier this month seeks to raise fresh funds up to US$1 billion. Magic Leap says some of the old investors are also participating in the latest funding including Alibaba Group Holding Ltd, Fidelity Management and Research Co., Google LLC, J.P. Morgan Investment Management and T. Rowe Price Group Inc.

Magic Leap's mission is to align people and technology to create a better world. Headquartered in Plantation, Florida, has also locations in Los Angeles, Sunnyvale, Seattle, Austin, Dallas, Zurich, New Zealand, and Israel.

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