Magic Leap secures $350M, continues development of new headset
May 22, 2020
Magic Leap has raised $350 million from new and existing investors, according to Business Insider. The news comes nearly a month after the virtual reality company slashed almost half of its staff. Magic Leap is reportedly also withdrawing the WARN notice—a notification required for mass layoffs—it sent to employees in late April, and is working on its next headset, Magic Leap 2. The business reached a valuation of $6.7 billion in April 2019, according to PitchBook data.