Magic Leap in talks for $400m Saudi cash injection:
"Saudi Arabia’s sovereign wealth fund is in talks to invest as much as $400m in Magic Leap in a deal that would take the US tech start-up’s total fundraising to $2.3bn, even though its augmented reality glasses have yet to go on sale.
The deal between Saudi Arabia’s Public Investment Fund and Florida-based Magic Leap is expected to be unveiled in the coming weeks, according to people close to the discussions.
The new financing is an extension to Magic Leap’s $502m funding round, announced in October, which was led by Singaporean investment fund Temasek. "
'via Blog this'
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