Even Realities Hits $1 Billion Valuation After $150 Million Tencent, Meituan Funding
Updated
Updated · CNBC · Jul 6
Even Realities Hits $1 Billion Valuation After $150 Million Tencent, Meituan Funding
1 articles · Updated · CNBC · Jul 6
Summary
$150 million in pre-Series B funding lifted Shenzhen-based Even Realities to a $1 billion valuation, with Tencent and Meituan among the investors.
The 2023 startup said it will use the cash to build its next-generation smart-glasses platform, deepen AI integration, expand globally and speed product development.
Founder Will Wang, a former Apple engineer, is targeting an AI wearables market led by Meta; Even's camera-free G2 glasses emphasize privacy while offering messaging, navigation and live translation.
More than half of Even Realities' users are in the U.S., where about 80% of its developers are also based, underscoring its overseas focus.
IDC said global smart-glasses shipments jumped 167% year over year to 2.25 million units in the first quarter, with Meta holding nearly 70% share and the market projected to top 50 million units by 2030.