Home / Gadgets / AR mystery startup Magic Leap looking to raise as much as $1B in new round

AR mystery startup Magic Leap looking to raise as much as $1B in new round

Magic Leap is also elevating as much as $1 billion to fund their imaginative and prescient of a long run stuffed with augmented truth glasses.

A Delaware submitting dated Wednesday used to be equipped to us by means of CB Insights, confirming that the secretive startup has licensed about $1 billion in new investment.  The submitting authorizes over 37 million stocks of Series D most popular inventory at $27 according to percentage. No main points on buyers but.

A spokesperson for Magic Leap showed the startup used to be elevating however would no longer element whether or not the round have been finished.

To date, essentially the most exceptional public main points to emerge in regards to the Plantation, Florida augmented truth startup were the really extensive money they’ve raised and the noteworthy names which might be backing them. This round withstanding, the corporate has publicly introduced just about $1.four billion in investment coming from high-profile buyers that come with Google, Alibaba and Andreessen Horowitz.

This really extensive quantity of investment has positioned Magic Leap firmly in the general public eye, however the one authentic hints of the startup’s shopper product technique have emerged from dated patent filings and cryptic remarks by means of the corporate’s management referring to the release of a tool it kind of feels to be tentatively calling “Magic Leap One.”

A record closing month in Bloomberg instructed that the AR startup is also readying itself to start cargo the software to a “small group of users” in the following six months at a worth that may be as much as $2,000. In the previous few weeks, the corporate has begun a new advertising push that has incorporated a branding revamp with a new emblem, new site and a new promo video which guarantees that “the whole story is coming soon.”

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