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Google Takes a Flyer on Magic Leap



Magic Leap on Tuesday announced that Google was the lead investor in a US$542 million round of Series B funding for its secret endeavors.

Also participating in the financing round were Qualcomm, Legendary Entertainment, KKR, Vulcan Capital, Kleiner Perkins Caufield & Byers, Andreessen Horowitz and Obvious Ventures.

Sundar Pichai, senior vice president of Android, Chrome and apps at Google, will join Magic Leap's board of directors. Paul Jacobs, executive chairman at Qualcomm, and Don Harrison, vice president of corporate development at Google, will join the board as observers.

"Magic Leap is going beyond the current perception of mobile computing, augmented reality and virtual reality," said Rony Abovitz, Magic Leap's president, CEO and founder. "We will revolutionize the way people communicate, purchase, learn, share and play."

Magic Leap is valued at just under $2 billion, according to The Wall Street Journal.
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