(Reuters) - Magic Leap, a well-funded and secretive startup, said on Tuesday it has raised $502 million in a new capital funding round led by Temasek Holdings (TEM.UL), an investment firm owned by the government of Singapore.
New investors in the latest series D funding also include EDBI, a Singapore-based global fund, Grupo Globo from Brazil, and Janus Henderson Investors, Magic Leap said in a statement.
The new financing round comes as Magic Leap readies a long-awaited debut product, a headset that shows images overlaid against the real world, known as augmented reality.
According to a corporate filing earlier this month, the Florida-based startup was seeking to raise up to $1 billion in fresh funding.
Magic Leap said some existing investors were also part of the latest funding. They included Alibaba (NYSE:BABA) Group Holding Ltd, Fidelity Management and Research Co, Google (NASDAQ:GOOGL) LLC, J.P. Morgan Investment Management and T. Rowe Price Group Inc.
Bloomberg reported last month that Temasek was considering to participate in a new financing round of more than $500 million, valuing Magic Leap close to $6 billion.