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Augmented reality startup Magic Leap raises $542 million from Google, others

[October 21, 2014]  (Reuters) - Magic Leap Inc, a startup focused on augmented reality technology, said it raised $542 million in a funding round led by Google Inc, which also attracted investment from Qualcomm Inc, the world's No. 1 mobile phone chipmaker.

Magic Leap said it would use the funds for product development and marketing of its mobile wearable system, among other things.

Sundar Pichai, SVP of Android, Chrome and Apps at Google, will join Magic Leap's board, the company said.

(Reporting By Sai Sachin R in Bangalore; Editing by Don Sebastian)

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