Magic Leap surpasses $960m in series D

Mar 8, 2018 • Robert Lavine

Public Investment Fund provided $400m as the AR technology developer took a round backed by Alibaba, Google and Grupo Globo to $963m.

US-based augmented reality headset developer Magic Leap increased a series D round featuring corporate investors Grupo Globo, Alibaba and Google to $963m yesterday.

The company added $461m to the round, $400m of which came from Saudi Arabia’s Public Investment Fund. The rest was provided by new backers, including media group Axel Springer’s corporate venturing unit, Axel Springer Digital Ventures, which invested last month.

Magic Leap is developing an AR headset together with a dedicated operating system, and is in…

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