Undisclosed new and existing investors are pumping $350m into the corporate-backed augmented reality technology developer as it prepares to cut headcount.

Magic Leap, the US-based augmented reality (AR) system developer backed by a host of corporates, has raised $350m from unnamed new and existing investors, Business Insider reported yesterday, citing an internal memo. Founded in 2011, Magic Leap has developed lightweight AR goggles that enable users to view graphics overlaid on their surroundings. Initially touted as…

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