Even Realities, a smart glasses startup, raised $150 million in funding led by Meituan and Tencent, valuing the company at $1 billion. The funding comes as Even Realities focuses on display-first smart glasses emphasizing privacy over camera functionality, differentiating itself from competitors like Meta and Snap.
Even Realities, a startup specializing in smart glasses, has successfully raised $150 million in a pre-Series B funding round. This round was led by Meituan and included participation from Tencent, as well as other notable investors such as Hillhouse and Sequoia China. The funding has helped boost the company's valuation to $1 billion.
Founded by former Apple engineers, Even Realities launched its first product, the G1, in 2024, which was marketed as the lightest waveguide smart glasses available. Following this, the G2 model was introduced last November, notably omitting a camera to prioritize user privacy. Instead, information is displayed to the wearer through a heads-up display controlled by a companion ring.
The company's approach includes removing cameras from their devices, which is central to their philosophy of privacy. CEO Will Wang highlighted that smart glasses are highly personal devices meant to be comfortable for both users and those around them. Features such as audio transcription and encrypted user data usage underscore their commitment to privacy.
Even Realities has rapidly expanded since its inception, growing its workforce from 30-40 employees to around 300-400. The company is positioned as a notable competitor in the fast-growing smart glasses market, which has recently seen significant interest from major firms like Meta and Snap.
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Even Realities, a smart glasses startup, raised $150 million in funding led by Meituan and Tencent, valuing the company at $1 billion. The funding comes as Even Realities focuses on display-first smart glasses emphasizing privacy over camera functionality, differentiating itself from competitors like Meta and Snap.