Google Inc and other investors are planning to invest about $500 million in hardware and software developer Magic Leap Inc to deliver "cinematic reality", technology website Re/Code said, citing sources.

Google is leading the funding round for the company, the website cited sources as saying. (on.recode.net/1tXLKnb)

Venture capital firm Andreessen Horowitz may be one of the other investors in the consortium, Re/Code said.

Google, Andreessen Horowitz and Magic Leap could not be reached for a comment outside of business hours.

Magic Leap said in February it had raised more than $50 million to develop its proprietary technology platform.