Magic Leap, a mysterious tech startup that has attracted massive funding, recently announced the completion of a $502 million Series D round led by Temasek Holdings. This significant investment highlights the company's growing influence in the augmented reality (AR) space.
The list of investors includes EDBI from Singapore, Grupo Globo from Brazil, and Janus Henderson Investors. Notably, several existing backers such as Alibaba, Fidelity Management and Research Co., Google, JP Morgan, and T. Rowe Price Group also participated in this round.
The company is currently working on its highly anticipated product: an AR headset that projects digital images onto the real world, offering an immersive experience. Despite all the hype and financial backing, the product is still not available to the public.
According to a recent report by Bloomberg, sources indicated that Temasek was considering investing over $500 million in Magic Leap, which has now reached a valuation of nearly $6 billion. However, despite the impressive numbers, the company has yet to deliver a consumer-ready product, leaving many curious about when it will finally make its debut.
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