Even Realities, a Shenzhen-headquartered startup, has raised $150 million in a pre-Series B round led by Meituan and Tencent, valuing the company at $1 billion. The three-year-old company is betting on display-first glasses that prioritize user privacy.
Founded by ex-Apple engineers, Even Realities has quickly gained traction, selling over 10,000 pairs of its smart glasses and expanding its staff from 30-40 to 300-400. The company's latest flagship, the G2, features a heads-up display and a companion ring for navigation, skipping the camera entirely to emphasize privacy.
Even Realities has invested heavily in optics, developing a proprietary optical technology called Even HAO, which integrates the microchip, waveguide, and prescription support from the start. With a strong presence in the US, Japan, and Europe, the company is poised for further growth, selling its products at a premium price point of $599 before tax.
