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Mixed reality outfit Magic Leap nets $793.5 million

Mixed reality startup Magic Leap has raised $793.5 million through a new funding round led by Chinese e-commerce outfit, Alibaba. 

Mixed reality startup Magic Leap has raised $793.5 million through a new funding round led by Chinese e-commerce outfit, Alibaba. 

Magic leap is no stranger to huge investments, having previously raised $542 million back in 2014, although the size of this latest cash injection is perhaps even more notable given the company has yet to release a single product. 

Despite keeping its tech under wraps, demo videos released online suggest Magic Leap will eventually release a device similar to Microsoft's HoloLens headset

Described as a "mixed reality lightfield" experience by Magic Leap CEO, Rony Abovitz, the mysterious tech is being pitched as a "computing platform" that will let users "seamlessly combine and experience their digital and physical lives."

It looks like the device might become a video game platform in the future, with the startup having brought in a number of game industry veterans including 7th Guest creator, Graeme Devine.

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