Behold, the stealth startup Magic Leap has indeed raised $502 million in Series D funding after rumors of the company have circulated in the recent months. This round of funding was led by Temasek and with participation from strategic and financial investors. New investors in Magic Leap include Temasek, EDBI – a Singapore-based global fund, Grupo Globo from Brazil, and Janus Henderson Investors.
Existing investors participating in this financing include Alibaba Group, Fidelity Management and Research Company, Google LLC, J.P. Morgan Investment Management, and T. Rowe Price, Inc.
“We’re excited to welcome Temasek and the other new investors in this round to the Magic Leap family. We also greatly appreciate the strong support and partnership from our existing shareholders,” said Rony Abovitz, Founder, President and CEO of Magic Leap. Allen & Company LLC served as exclusive financial advisor to Magic Leap in connection with the transaction.
To date, Magic Leap has raised more than $1.9 billion which is more than most companies have done in the past, let alone a stealth startup company that has yet to reveal a single spec of its hardware to the public. But Magic Leap has been revamping their marketing efforts where they released a new video which shows their team hard at work in developing their mixed reality technology.
In addition, we got a glimpse of one of their immersive games that they’ve been working on called “Ghost Girl.” Magic Leap has also unveiled a new partnership with a comic-book company called Madefire where they’ll collaborate on bringing comic books to life. Our theory is that Magic Leap will unveil a glimpse of their product at the end of the year or early in 2018. We aren’t sure how advanced their technology is but they’ve certainly impressed their investors who value the company at more than $6 billion (according to experts).