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Google set to lead $500 million investment in Magic Leap - technology website

Published 14/10/2014, 02:56
© Reuters A Google logo is seen at the entrance to the company's offices in Toronto
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(Reuters) - Google Inc (O:GOOGL) and other investors are planning to invest about $500 million (311.31 million pounds) in hardware and software developer Magic Leap Inc to deliver "cinematic reality", technology website Re/Code said, citing sources.

Google is leading the funding round for the company, the website cited sources as saying. (http://on.recode.net/1tXLKnb)

Venture capital firm Andreessen Horowitz may be one of the other investors in the consortium, Re/Code said.

Google, Andreessen Horowitz and Magic Leap could not be reached for a comment outside of business hours.

© Reuters. A Google logo is seen at the entrance to the company's offices in Toronto

Magic Leap said in February it had raised more than $50 million to develop its proprietary technology platform.

(Reporting by Yashaswini Swamynathan in Bangalore; Editing by Ken Wills)

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