Alibaba Reportedly Investing In Magic Leap’s $827M Series C Round


U.S. augmented reality (AR) start-up Magic Leap is raising US$827 million in a series C funding round, according to news articles the company posted on its Twitter account.

Alibaba Group Holdings Limited is reportedly participating in the round, potentially contributing around US$200 million, says previous media reports.

The investor identities of Magic Leap’s latest round were not disclosed.

In 2014, the start-up raised US$542 million led by Google, with participation from Qualcomm, Paul Allen’s Vulcan Capital, KKR, Kleiner Perkins Caufield & Byers, and Andreessen Horowitz.

Magic Leap hasn’t launched any products, but has released a couple of demo videos.

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