Magic Leap CEO Rony Abovitz. Photograph by Kevin Moloney/Fortune Brainstorm Tech, under Creative Commons license

Augmented reality company Magic Leap, which recently hit financial hassles despite having raised north of $2 billion in private funding, has raised an extra $350 million in funding from both existing and new investors, according to a report from Business Insider, and later confirmed by the company. The funding corroborates a recent report of Magic Leap having entered negotiations to secure additional funding after having laid off more than 50% of its employees and been somewhat on the verge of insolvency.

The investors who provided the new funding were not named.