Mixed Reality Purveyor Magic Leap Lands Additional $461M in Funding

Total funding about $2.5 billion

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Mixed Reality Purveyor Magic Leap Lands Additional $461M in Funding

Despite having not yet released a product, mixed reality company Magic Leap still manages to pull in vast amounts of investment funding. The company today announced it had landed another nearly half billion dollars in Series D funding.

Nearly all of the $461 million comes from The Public Investment Fund, an investment arm of the Kingdom of Saudi Arabia. This latest contribution brings the Series D funding to just shy of a billion dollars, at $963 million.

While the company declined to tell Glixel how much it has raised to date in total, estimates put it at about  $2.5 billion.

While Magic Leap has historically remained mostly tight-lipped about their work in creating what it calls a light-field headset, the company is beginning to speak more about what to expect and when. Late last year, the company invited Glixel to its sprawling headquarters outside of Fort Lauderdale, Florida to see the technology in action, tour the facility and speak with a number of key personnel, including founder Rony Abovitz.

During the visit, Glixel had a chance to check out the headset and was told that a version of it would be released in 2018. During the annual DICE Summit in Las Vegas last month, members of Weta Gameshop announced they would only be making games for the upcoming Magic Leap hardware and further detailed the work they're doing with the tech. 

Magic Leap also told Glixel today that there is nothing new to share yet about a wider press preview event for the tech before it is released to the public.