Magic Leap looking to raise as much as $1B in new round that values startup at up to $7B

Magic Leap may be raising as much as $1 billion to fund their vision of a future filled with augmented reality glasses.

A Delaware filing dated Wednesday was provided to us by CB Insights, confirming that the secretive startup has authorized about $1 billion in new funding.  The filing authorizes over 37 million shares of Series D preferred stock at $27 per share. No details on investors yet. Using this and previous filings, Equidate is calculating that the proposed round is being done at about a $7 billion valuation.