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Magic Leap adds $461 million in additional funding led by Saudi Arabia

  • Posted byby Dean Takahashi
  • Updated
  • 1 min

Augmented reality glasses maker Magic Leap has raised $461 million in additional funding from the Public Investment Fund, the Kingdom of Saudi Arabia’s sovereign investment arm, and some other new investors.

That brings the Plantation, Florida-based company’s fourth round of institutional funding to $963 million, and the total raised to date to $2.3 billion. The funding total is far higher than that of other companies in the fledgling AR business.

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Written by

Dean Takahashi

Dean Takahashi is editorial director for GamesBeat. He has been a tech journalist since 1988, and he has covered games as a beat since 1996. He was lead writer for GamesBeat at VentureBeat from 2008 to April 2025. Prior to that, he wrote for the San Jose Mercury News, the Red Herring, the Wall Street Journal, the Los Angeles Times, and the Dallas Times-Herald. He is the author of two books, "Opening the Xbox" and "The Xbox 360 Uncloaked." He organizes the annual GamesBeat Next, GamesBeat Summit and GamesBeat Insider Series: Hollywood and Games conferences and is a frequent speaker at gaming and tech events. He lives in the San Francisco Bay Area.