Magic Leap confirms $502 million Series D round

Mixed reality slash augmented reality startup Magic Leap announced today that it created a $502 million Series D round led by Temasek with participation from EDBI, Grupo Globo, Janus Henderson, Alibaba Group, Fidelity Management and others. Just last week, a Delaware filing confirmed that Magic Leap approved up to$ 1 billion in new shares.

“We’re aroused to welcome Temasek and the other new investors in this round to the Magic Leap family, ” Magic Leap founder and chairman Rony Abovitz said in a release. “We also greatly appreciate the strong supporting and partnership from our existing shareholders.”

It’s still not totally clear what Magic Leap is doing, but it sure has raised a ton of fund( more than $1.9 billion) in order to do whatever it is that it’s doing. To date, we’ve been able to gather that the company may be launching a device called “Magic Leap One.” And last month, Bloomberg indicated Magic Leap is a possibility gearing up to ship that device to a “small group of users” in the next six months or so.

You can listen to the Equity podcast crew talk about Magic Leap’s aspirations on their demonstrate last week.