Magic Leap Raises $793.5M in Funding

Magic Leap LogoMagic Leap, Inc., a Dania Beach, Florida-based company that is advancing a computing platform which will offer experiences combining digital and physical lives, raised $793.5m in funding.

The round was led by Alibaba Group with participation from existing investors Google Inc., Qualcomm Ventures, Legendary Entertainment, KKR, Vulcan Capital, Kleiner Perkins Caufield & Byers, Andreessen Horowitz, Obvious Ventures, etc., and new investors Warner Bros., Fidelity Management and Research Company, J.P. Morgan Investment Management, Morgan Stanley Investment Management, funds and accounts advised by T. Rowe Price Associates, Inc., and Wellington Management Company.

The company intends to use the funds to accelerate development of its Mixed Reality Lightfield™ experience and bring it to the market.

Led by Rony Abovitz, Founder, President, and CEO, Magic Leap is developing an innovative computing platform that will enable users to combine and experience digital and physical lives, with application in several fields including entertainment, education, sciences, healthcare, etc.
The company also has locations in Santa Cruz, Los Angeles, Mountain View, Seattle, Austin, the UK, New Zealand, and Israel.

FinSMEs

02/02/2016