Home News Temasek, EDBI, Alibaba join augmented reality startup Magic Leap’s US$502M Series D

Temasek, EDBI, Alibaba join augmented reality startup Magic Leap’s US$502M Series D

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Magic Leap develops a computing platform based upon Mixed Reality, wherein the user interface integrates into our surroundings, perceivable only by the user


Singapore’s Temasek Holdings has led a US$502 million Series D funding round of US-based Augmented Reality company Magic Leap.

Singapore-based global fund EDBI, Brazil’s Grupo Globo, and Janus Henderson Investors, along with its existing investors including Alibaba Group, Fidelity, Google, JP Morgan Investment Management, and T Rowe Price also participated.

Earlier there were reports that Temasek was considering an investment of US$500 million in Magic Leap.

Also Read: How to accelerate your business using AR technologies

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Founded in 2011 and headquartered in Florida, Magic Leap is operating in Augmented Reality/Virtual Reality/Mixed Reality field. It develops a computing platform based upon Mixed Reality (MR) wherein the user interface integrates into our surroundings, perceivable only by the user. The company’s mission is to harmonise human interaction with technology.

The company’s other existing investors include top-tier investors and companies like Qualcomm Ventures, Kleiner Perkins Caufield & Byers, and Andreessen Horowitz.

The company, whose products are yet to be launched, plans to expand to markets such as Singapore. Its presence in Singapore will help seed and catalyse the development of advanced AR/VR/MR capabilities locally. Singapore is a high potential location for the company to consider activities such as manufacturing, marketing, developer engagements, partnership with local research institutions, among others.

The post Temasek, EDBI, Alibaba join augmented reality startup Magic Leap’s US$502M Series D appeared first on e27.


Source: e27

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