Apple · Meta · China · CNBC Technology
Apple veteran's Chinese smart-glasses firm becomes unicorn as Tencent, Meituan fund rival to Meta
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A Chinese smart-glasses maker founded by an Apple veteran has become a unicorn after a funding round with investors including Meituan and Tencent.
Key facts
- Even Realities Technology raised $150 million in the pre-Series B round, giving it a valuation of $1 billion
- Its domestic rival Rokid is valued at $2.58 billion, according to PitchBook data, after the latest round that raised $522 million in March
- The global smart glasses category surged 167% from a year earlier in the first quarter, shipping 2.25 million units worldwide, according to consultancy firm IDC
- Global shipment of smart glasses, including those with display glasses or virtual-reality functions, is expected to more than double to 50 million in 2030
Summary
Even Realities Technology raised $150 million in the pre-Series B round, giving it a valuation of $1 billion. The company will use the funds to develop its next-generation smart glasses platform, deepen AI integration, scale up global operations and accelerate product innovation, it said Monday. The Shenzhen-based startup joined a slew of global peers, including Meta Platform, to build advanced gadgets and electronics that bring the benefits of AI to individual users. Even Realities, which was founded in 2023, launched the Even G2 smart glasses with a bigger display in a lighter frame late last year, alongside the Even R1, a smart ring that controls the display of the G2.