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Magic Leap confirms US$502M funding led by Singapore's Temasek

As expected, Singapore's sovereign wealth fund Temasek Holdings Ltd. led a new funding round for Florida-based augmented reality startup Magic Leap Inc., raising US$502 million.

Other new investors include Singapore-based global fund EDBI, with existing investors such as Alibaba Group Holding Ltd. and Alphabet Inc. unit Google Inc. also participating in the round.