Magic Leap, a US-based augmented reality (AR) technology developer backed by corporates including media company Grupo Globo, is seeking $400m in a series D extension, the Financial Times reported on Friday.
The investment would come from the Saudi Arabian government’s Public Investment Fund (PIF) and would value Magic Leap at approximately $6bn. The companies are in talks and the deal is expected to be closed within weeks, people familiar with the matter told FT.
Founded in 2011, Magic Leap has…
