Sponsored by: Investment Center

Something new in your business?  Click here to submit your business press release

Chamber Corner | Main Street News | Job Hunt | Classifieds | Calendar | Illinois Lottery 

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

[October 14, 2014] (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. (http://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)

[© 2014 Thomson Reuters. All rights reserved.]

Copyright 2014 Reuters. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.