Google Inc (NASDAQ: GOOGL) and other investors are planning to invest about $500 million U.S. 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.
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.
Magic Leap said in February it had raised more than $50 million U.S. to develop its proprietary technology platform.
Google opened Tuesday trading at $549.23 U.S., up $4.47, or 0.8%, from Monday's close, within a 52-week trading range from $433.13 U.S. to $615.05 U.S.
Tech Insider
