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.
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.