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Feb

02

Magic Leap Valued at $4.5 Billion With Funding From Alibaba

By Tony Seruga

Google, Qualcomm also participated in $793.5 million round
Funding will accelerate and scale production to get to market

Magic Leap Inc., the secretive startup working on a device that simulates reality, has raised a new round of funding led by Alibaba Group Holding Ltd., valuing the company at $4.5 billion.

Magic Leap added $793.5 million to its arsenal, the company said Tuesday. That will provide a long enough runway to get to sustainability and help accelerate bringing the company’s first product to the market, Chief Executive Officer Rony Abovitz said…

Magic Leap Valued at $4.5 Billion With Funding From Alibaba

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