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Startup Magic Leap raises half a billion in new funding

Oct 17 (Reuters) - Magic Leap, a well-funded and secretive startup, said on Tuesday it has raised $502 million in a new capital funding round led by Temasek Holdings, an investment firm owned by the government of Singapore.

New investors in the latest series D funding also include EDBI, a Singapore-based global fund, Grupo Globo from Brazil, and Janus Henderson Investors, Magic Leap said in a statement. (http://bit.ly/2zvsF74)

The new financing round comes as Magic Leap readies a long-awaited debut product, a headset that shows images overlaid against the real world, known as augmented reality.

According to a corporate filing earlier this month, the Florida-based startup was seeking to raise up to $1 billion in fresh funding.

Magic Leap said some existing investors were also part of the latest funding. They included Alibaba Group Holding Ltd , Fidelity Management and Research Co, Google LLC, J.P. Morgan Investment Management and T. Rowe Price Group Inc .

Bloomberg reported last month that Temasek was considering to participate in a new financing round of more than $500 million, valuing Magic Leap close to $6 billion. (https://bloom.bg/2eWEObZ) (Reporting by Aishwarya Venugopal in Bengaluru; Editing by Shounak Dasgupta)