Even Realities Technology raised $150 million in a pre-Series B funding round. The round valued the Chinese smart-glasses company at $1 billion. The financing included investors such as Meituan and Tencent. The funding makes Even Realities a unicorn as it looks to compete in the AI wearable market.
Even Realities was founded in 2023 by Will Wang, an Apple veteran who worked at the company from 2016 to 2018. Wang was involved in the development and mass production of Apple Watch and iPhone.
The Shenzhen-based company plans to use the new funding to develop its next-generation smart glasses platform. It also plans to deepen AI integration, scale global operations, and accelerate product innovation.
Even Realities is part of a growing group of companies building AI-powered wearable devices. The market includes global competitors such as Meta Platforms, while Chinese technology companies such as Alibaba have also entered the category with AI glasses products.
The company launched its Even G2 smart glasses late last year. The glasses feature a larger display in a lighter frame and are paired with the Even R1, a smart ring that controls the G2 display.
Even Realities’ product strategy differs from Meta’s camera-equipped Ray-Ban smart glasses. The company’s flagship G2 glasses do not include a camera or recording hardware, yet still deliver notifications, navigation, and live translation via a heads-up display embedded in the lenses.
The company has emphasized privacy as a key part of its approach. Even Realities said that more than half of its user base is in the U.S., while about 80% of its developers are also based there.
