The investment will advance Magic Leap’s focus on delivering powerful Augmented Reality solutions.
Magic Leap announced that it has raised $500 million in funding at a post-money valuation of roughly $2 billion. The new capital will further Magic Leap’s focus on delivering powerful AR solutions including the roll-out of its second-generation product, Magic Leap 2, in 2022.
“This investment is an important step in advancing Magic Leap’s mission to transform the way we work,” said Peggy Johnson, CEO of Magic Leap. “Since joining Magic Leap in 2020, my focus has been on accelerating the company’s shift to the enterprise market, strengthening our technological foundation, and building a robust business across sectors ranging from healthcare and manufacturing to defense and the public sector. With ongoing support from our existing investors, Magic Leap will have greater financial flexibility and the resources needed to continue our growth trajectory as we expand on our industry-leading AR technology.”