February 2, 2016 / 2:12 PM / 3 years ago

Magic Leap raises $793.5 million in funding round led by Alibaba

Rony Abovitz, CEO of augmented reality startup Magic Leap, waves during the first day of the annual Allen and Co. media conference in Sun Valley, Idaho July 8, 2015. REUTERS/Mike Blake

(Reuters) - Magic Leap Inc, a startup focused on augmented reality technology, said on Tuesday it had raised $793.5 million in a funding round led by Chinese ecommerce giant Alibaba Group Holding Ltd (BABA.N).

Magic Leap, which counts Alphabet Inc (GOOGL.O) and Qualcomm Inc (QCOM.O) among its investors, said money also came from Time Warner’s TWX.N Warner Bros unit and investment arms of Fidelity, J.P. Morgan (JPM.N) and Morgan Stanley (MS.N).

The Florida-based company is developing a computing platform that it says will enable users to combine digital experience with their physical lives. (bit.ly/1XjxvtV)

Reporting by Supantha Mukherjee in Bengaluru; Editing by Rodney Joyce

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