Temasek Holdings Pte., an investment company owned by Singapore, is planning to invest more than $500 million in a Florida-based startup, Bloomberg reported on Thursday.
Magic Leap Inc, that has already raised more than $1.3 billion to build a wearable computing device, is trying to raise even more cash as it readies a long-awaited debut product, Bloomberg reported citing people familiar with the situation.
Magic Leap has already attracted high-profile investments from companies including Alibaba Group Holding Ltd., Qualcomm Inc. and Alphabet Inc.'s Google, the report said.
Magic Leap hopes to ship its first device to a small group of users within six months, according to three people familiar with its plans.
The headset device will cost between $1,500 and $2,000, although that could change. It would be bigger than a pair of glasses, but smaller than virtual reality headsets such as Facebook Inc.'s Oculus Rift, the report said.