MARKETS & INVESTING | Staff Reporter, Singapore

Temasek raises $502m for wearable tech firm

It has joined Google and Alibaba in the lineup of investors.

Temasek Holdings raises $502m in a Series D equity funding for wearable technology firm Magic Leap, Inc. (Magic Leap).

According to a press release, the new investors in Magic Leap include Temasek, Singapore-based global fund EDBI, Grupo Globo from Brazil, and Janus Henderson Investors.

Existing investors participating in this financing include Alibaba Group, Fidelity Management and Research Company, Google LLC, J.P. Morgan Investment Management, and T. Rowe Price, Inc.

Magic Leap focuses on proprietary wearable technology that allows interaction with digital devices, along with augmented reality (AR) and video.

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