Temasek leads $502m round in Magic Leap Funding
Singapore's Temasek leads the way in wearable computing devise, Magic Leap's, funding.
Another day, another investment for Singapore's Temasek. The latest investment comes in the form of intuitive tech firm, Magic Leap.
In a funding round that made over US$502 Million, Temasek joined the likes of Singapore Economic Development Board's arm, EDBI, Alibaba Group, Google LLC and J.P.Morgan Investment Management, with the latest round of funding brining the estimated value of Magic Leap up to US$6 Billion.
So what exactly is Magic Leap? Well, famously secretive about the product they are developing, insiders say that Magic Leap is creating a wearable computing devise that will set about creating new and highly intuitive ways to interact with computers.
Speaking of Temasek's role in the funding, Rony Abovitz, Founder and President and CEO of Magic Leap said: "We are excited to welcome Temasek and the other new investors in this round to the Magic Leap family. We also greatly appreciate the strong support and partnership from our existing shareholders."