Singapore’s Temasek mulling investment in AR start-up Magic Leap: reports
14 Sep 2017
Investors have apparently not stopped pouring money into Magic Leap's augmented reality ambitions quite yet, according to reports.
The Plantation, a Florida-based startup, is said to be in talks with Singapore-based Temasek Holdings to raise over $500 million, valuing the AR company at around $6 billion, Bloomberg reported.
Bloomberg also cited sources as saying that Magic Leap will likely start shipping devices to a ''small group of users'' in six months and that the device could likely end up costing between $1,500-$2,000.
The start-up has plans to build a mixed reality platform where virtual images are embedded into normal human vision when seen through a headset, somewhat similar to Microsoft HoloLens.
Business Insider had in February published what it claimed was a photo of a working prototype of Magic Leap's portable augmented reality device. But, according to the start-up's president, CEO and founder Rony Abovitz, the photo showed a Magic Leap research and development test rig used to collect room and space data for machine learning work.