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Hannibal X 8 years, 3 months ago.
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Magic Leap, the company that’s working on an “augmented reality” device that promises to blow your mind, has finished up a giant funding round.
The Florida-based company, which had previously raised more than $500 million from Google and other investors, has added on a new round of at least $827 million, though industry sources believe the number may be even higher than that.
The new money will give Magic Leap a value of at least $3.7 billion. As we reported last year, the round will include money from Chinese e-commerce giant Alibaba, which hadn’t backed the company before, but is now on the hunt for big investing opportunities.
Sources say Magic Leap intends to announce the new round in the next few days. The company declined to comment.
Magic Leap’s technology is supposed to end up in a headset that will beam computer-generated images into your eyes, so that you end up seeing the real world alongside a virtual one. CEO Rony Abovitz has described the effect as “part-Matrix, part-Harry Potter.”
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