Google has led a $542 million round for Magic Leap, a Florida-based cinematic reality startup. Other investors included Qualcomm Ventures, Legendary Entertainment, KKR, Vulcan Capital, Kleiner Perkins Caufield & Byers, Andreessen Horowitz and Obvious Ventures.
The capital will be used for product development, Magic Leap said.
In addition to the funding, Sundar Pichai, Google’s senior vice president of Android, Chrome and apps, has been appointed to Magic Leap’s board of directors. Also, Dr. Paul E. Jacobs, executive chairman of Qualcomm and Don Harrison, vice-president of corporate development at Google, will become board observers.
Allen & Company and Morgan Stanley provided financial advice to Magic Leap in this transaction.
Earlier this year, Magic Leap raised more than $50 million in its combined Series Seed and A funding. The investors in these rounds were not named.
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