Magic Leap confirms it has raised $502 million in funding

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Magic Leap confirmed that it has raised another large funding round as it apparently readies its first product for launch.

The secretive South Florida tech startup announced on Tuesday that it has raised $502 million in a Series D round of funding led by Temasek Holdings, an investment fund owned by Singapore’s government. The round includes two other new investors, Grupo Globo of Brazil and Janus Henderson Investors, and existing investors Alibaba Group, Google, EDBI, Fidelity Management, JP Morgan and T. Rowe Price.