Magic Leap raises $793.5 million in funding round led by Alibaba

(Reuters) - Magic Leap Inc, a startup focused on augmented reality technology, said on Tuesday it had raised $793.5 million in a funding round led by Chinese ecommerce giant Alibaba Group Holding Ltd (NYSE: BABA).

Magic Leap, which counts Alphabet Inc (NASDAQ: GOOGL) and Qualcomm Inc (NASDAQ: QCOM) among its investors, said money also came from Time Warner's (NYSE: TWX) Warner Bros unit and investment arms of Fidelity, J.P. Morgan (NYSE: JPM) and Morgan Stanley (NYSE: MS).

The Florida-based company is developing a computing platform that it says will enable users to combine digital experience with their physical lives. (http://bit.ly/1XjxvtV)

(Reporting by Supantha Mukherjee in Bengaluru; Editing by Rodney Joyce)

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