Magic Leap to Raise Another $400M

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TradeArabia quotes FT report that Saudi Arabia’s sovereign wealth fund is in discussions to invest $400M in Magic Leap on valuation of $6B. This is supposed to be an extension of October 2017 financial round when the company raised $502M. The Saudi investment is to bring the total raised capital to $2.3B.

Magic Leap is said to be developing its own silicon, optics, operating system, and applications which explains the unprecedented scale of the fundraising.

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