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Report: Magic Leap eyes $500 million investment round which values it at $6 billion

Date Type Companies involved Size
September 14th, 2017 investment Magic Leap $500m
Report: Magic Leap eyes $500 million investment round which values it at $6 billion

Mixed reality firm Magic Leap is reportedly eyeing another round of investment that could value the company at $6 billion.

As reported by Bloomberg, Singapore-based investment firm Temasek Holdings is looking to invest $500 million into Magic Leap. This would bring the company's total funding raised to over $1.8 billion.

The firm is also looking to ship its first mixed reality product to a small group of users in the next six months. People familiar with the matter also claim the device could cost between $1,500 and $2,000.

Leap of faith

This device has yet to be publicly unveiled, but sources claim that it is a pair of glasses slightly larger than average, but smaller than a VR headset. A smaller device, about the size of a smartphone, also needs to be carried by the user to handle processing and send information to the glasses.

Magic Leap is notably quiet on just about anything in its business. It acquired FuzzyCube Software and staff from Moonbot in 2016, but details of both didn't emerge until April 2017.

Even during a talk at Develop:Brighton 2017, Magic Leap Chief Game Wizard Graeme Devine didn't give too much away on what the company was up to. He did talk about its internal Pitchfest competition, which saw teams designing unique games for the device.


News Editor

Ric likes to read epic poems and watch classic films to hide the fact he plays way too many games. The facade has thus far not been very effective.

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