Magic Leap Announces $502 Million in Series D Funding

Round led by Temasek with participation from new and existing investors.

Plantation, Florida – October 17, 2017 – Magic Leap, Inc. (“Magic Leap”) announced today that it has raised $502 million in Series D equity funding, led by Temasek and with participation from strategic and financial investors.

New investors in Magic Leap include Temasek, EDBI - a Singapore-based global fund, Grupo Globo from Brazil, and Janus Henderson Investors.

Existing investors participating in this financing include Alibaba Group, Fidelity Management and Research Company, Google LLC, J.P. Morgan Investment Management, and funds and accounts advised by T. Rowe Price Associates, Inc.

“We’re excited to welcome Temasek and the other new investors in this round to the Magic Leap family. We also greatly appreciate the strong support and partnership from our existing shareholders,” said Rony Abovitz, Founder, President and CEO of Magic Leap. Allen & Company LLC served as exclusive financial advisor to Magic Leap in connection with the transaction.