Google set to lead $500 million investment in Magic Leap: tech website

Mon Oct 13, 2014 8:58pm EDT
 
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(Reuters) - Google Inc and other investors are planning to invest about $500 million in hardware and software developer Magic Leap Inc to deliver "cinematic reality", technology website Re/Code said, citing sources.

Google is leading the funding round for the company, the website cited sources as saying. (on.recode.net/1tXLKnb)

Venture capital firm Andreessen Horowitz may be one of the other investors in the consortium, Re/Code said.

Google, Andreessen Horowitz and Magic Leap could not be reached for a comment outside of business hours.

Magic Leap said in February it had raised more than $50 million to develop its proprietary technology platform.

(Reporting by Yashaswini Swamynathan in Bangalore; Editing by Ken Wills)

 
A computer user poses in front of a Google search page in this photo illustration taken in Brussels May 30, 2014. REUTERS/Francois Lenoir