Magic Leap may be raising as much as $1 billion to fund their
vision of a future filled with augmented reality glasses.

A Delaware filing dated Wednesday was provided to us by CB
Insights, confirming that the secretive startup has authorized about $1 billion in new funding.
 The filing authorizes over 37 million shares of Series D
preferred stock at $27 per share. No details on investors yet.
Using this and previous filings, Equidate is
calculating that the proposed round is being done at about a $7
billion post-money valuation. Pitchbook estimates it closer to
$6.5 billion.

A spokesperson for Magic Leap would not confirm that the round
had been completed.

To date, the most remarkable public details to emerge regarding
the Plantation, Florida augmented reality startup have been the
substantial cash they’ve raised and the noteworthy  names
that are backing them. This round withstanding, the company has
publicly announced nearly $1.4 billion in funding coming from
high-profile investors that include Google, Alibaba and
Andreessen Horowitz.

This substantial amount of funding has placed Magic Leap firmly
in the public eye, but the only official hints of the startup’s
consumer product strategy have emerged from dated patent
filings and cryptic remarks by the company’s leadership
referring to the launch of a device it seems to be tentatively
calling “Magic Leap One.”

A report last month in Bloomberg suggested that the AR startup may
be readying itself to begin shipment the device to a
“small group of users” in the next six months at a price that
could be as much as $2,000. In the past few weeks, the company
has begun a new marketing push that has included a branding
revamp with a new logo, new website and a new promo video which
promises that “the whole story is coming soon.”

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