Magic Leap raises $793.5 million in funding round led by Alibaba

Reuters News
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Posted: Feb 02, 2016 9:09 AM

(Reuters) - Magic Leap Inc, a startup focused on augmented reality technology, said on Tuesday it had raised $793.5 million in a funding round led by Chinese ecommerce giant Alibaba Group Holding Ltd <BABA.N>.

Magic Leap, which counts Alphabet Inc <GOOGL.O> and Qualcomm Inc <QCOM.O> among its investors, said money also came from Time Warner's <TWX.N> Warner Bros unit and investment arms of Fidelity, J.P. Morgan <JPM.N> and Morgan Stanley <MS.N>.

The Florida-based company is developing a computing platform that it says will enable users to combine digital experience with their physical lives. (http://bit.ly/1XjxvtV)

(Reporting by Supantha Mukherjee in Bengaluru; Editing by Rodney Joyce)