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Mixed reality start-up Magic Leap plots new $1 billion funding round

Investment could value company at $7 billion

Mixed reality start-up Magic Leap plots new $1 billion funding round

Mixed reality start-up Magic Leap is eyeing up another investment round that could see the company raise as much as $1 billion.

As reported by TechCrunch, a document filed to the state of Delaware confirms the company is seeking the sale of more than 37 million shares of Series D preferred stock at $27 per share.

Hefty sums

Should it raised $1 billion, it would take total funding to date to around $2.3 billion and would value the company at as much as $7 billion.

No information on any investors taking part in the funding round has been released and a spokesperson did not confirm whether or not the investment had been completed.

The report comes just a month after Bloomberg claimed investment firm Temasek Holdings was looking to invest $500 million into Magic Leap.

It was also reported that the start-up is gearing up to release its first mixed reality product, which has yet to be seen publicly, within the next five months. The device could cost between $1,500 and $2,000.


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Craig Chapple is a freelance analyst, consultant and writer with specialist knowledge of the games industry. He has previously served as Senior Editor at PocketGamer.biz, as well as holding roles at Sensor Tower, Nintendo and Develop.