A Delaware filing dated Wednesday was presented to us by CB Insights, confirming the secretive startup has approved about $1 billion in new funding. The filing authorizes over 37 million shares of Series D preferred stock at $27 per share. No information on investors yet. By using this and former filings, Equidate is calculating the suggested round has been done at approximately a $7 billion valuation.
A spokesperson for Magic Leap wouldn’t make sure the round have been completed.
Magic Leap might be raising around $1 billion to finance their vision of the future full of augmented reality glasses.
This substantial quantity of funding has placed Magic Leap firmly making headlines, however the only official hints from the startup’s consumer product strategy emerged from dated patent filings and cryptic remarks through the company’s leadership talking about the launch of the device it appears to become tentatively calling “Magic Leap One.”
A study recently in recommended the AR startup might be readying itself to start shipment the unit to a “small number of users” within the next six several weeks in a cost that may be around $2,000. Previously couple of days, the organization has started a brand new marketing push which has incorporated a branding update with a brand new emblem, new website along with a new promo video which promises that “the whole story is originating soon.”
Up to now, probably the most outstanding public details to emerge concerning the Plantation, Florida augmented reality startup happen to be the substantial cash they’ve elevated and also the significant names which are backing them. This round withstanding, the organization has openly announced nearly $1.4 billion in funding originating from high-profile investors which include Google, Alibaba and Andreessen Horowitz.