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Magic Leap raises another US$461m

Mixed reality company Magic Leap has reportedly raised another US$461 million (€371 million) in funding led by the Kingdom of Saudi Arabia’s sovereign investment arm, The Public Investment Fund.

Magic Leap One headset

The new funding takes Magic Leap’s Series D round to US$963 million after the company raised US$502 million in equity funding in October, led by Singapore-headquartered investment company Temasek.

“The Magic Leap team and I are happy to welcome The Public Investment Fund and the other new investors to the Magic Leap family. We look forward to having them join us on our journey to build an amazing future,” company CEO Rony Abovitz is quoted as saying.

Last month Magic Leap agreed its first sports partnership with the NBA and Turner, in a move it claimed will usher in “the next generation of sports viewing and interactivity”.

“Using Magic Leap’s Screens platform, fans will be able to summon multiple, virtual screens into their field of view,” said Jeff Ruediger, managing director, Magic Leap Screens.

Magic Leap is developing a mixed reality headset, the Magic Leap One, which it has announced but is yet to launch commercially.