Bloomberg, citing sources, said on Thursday that Temasek is considering taking part in a new funding round of more than $500 million that could value the start-up close to $6 billion.
Magic Leap, a virtual and augmented reality start-up, has raised more than $1.3 billion according to the report. It is backed by prominent investors including Jack Ma’s Alibaba Group, Alphabet’s subsidiary Google and Qualcomm. Both Temasek and Magic Leap declined to comment to Bloomberg.
The start-up is trying to build a mixed reality platform where virtual images are embedded into normal human vision when seen through a headset. It is similar to the Microsoft HoloLens.
Earlier in February, Business Insider published what it claimed was a photo of a working prototype of Magic Leap’s portable augmented reality device. But the start-up’s president, CEO and founder, Rony Abovitz, said the photo showed a Magic Leap research and development test rig used to collect room and space data for machine learning work.
Magic Leap is hoping to ship its first devices to a small group of users within six months, the Bloomberg report noted. It added that those devices will likely cost between $1,500 and $2,000, but the prices could change.
WATCH: Inside ‘Magic Leap’s augmented reality