Is Magic Leap about to get more investment?

Is Magic Leap about to get more investment?
Sean Cleaver

By Sean Cleaver

September 14th 2017 at 2:54PM

Reports from Bloomberg suggest an extra $500 million might come from a new financing round

Magic Leap is reportedly going to be worth around $6 billion following a new valuation ahead of a possible new financing round.

The wearable start-up, based in Florida, is making a headset that is intended to bridge the divide between smart glasses and a virtual reality headset. The first units are expected to be shipped within the next six months and will vary in price between $1500 and $2000. The unit would work with the help of a second unit that would be carryable by the user.

According to a report from Bloomberg, the company which has already raised over $1.3 billion is expecting to raise another $500 million. Investment company Temasek Holdings Pte, owned by Singapore, is reportedly considering taking part in a new financing round which would value Magic Leap at $6 billion.

According to the report, the financing round is still open, despite neither company commenting on the speculation. Magic Leap chief game wizard, Graeme Devine, spoke at the Develop:Brighton 2017 conference in Brighton, opening the talks with a glimpse into the processes behind AR software development at the company.