Magic Leap raises big new funding round
Augmented reality startup Magic Leap is raising upwards of $1 billion in new venture capital funding, according to a Delaware regulatory filing unearthed by CB Insights. It would be Series D stock sold at $27 per share, which is a 17.2% bump from Series C shares issued in the summer of 2016.
Bottom line: Magic Leap still hasn't come out with a commercial product, having repeatedly missed expected release dates. But investors must still like what they see down in Ft. Lauderdale, given that they keep plugging in more money at increased valuations.