This Chinese Smart Glasses Startup Is Now a Unicorn as the Race for Your Face Heats Up

Just weeks after Meta and Snap rolled out their latest smart glasses, another company has offered a clue about where the market is heading and how much investors believe it's worth.

Shenzhen-based smart glasses startup Even Realities has reached a $1 billion valuation after raising $150 million in a pre-Series B funding round led by Meituan and existing investor Tencent. Founded in 2023 by former Apple engineers, the company is betting there's room for a different kind of wearable, one that prioritizes information over Instagram and privacy over perpetual recording.

Over the last couple of years, smart glasses have become one of tech's busiest battlegrounds. Meta is doubling down on AI-powered eyewear, Snap is pushing augmented reality through its latest $2,195 Spectacles, while Google is expanding Android XR partnerships to bring more smart glasses to market. Every major player seems convinced that the next screen you'll look at won't sit in your hand, but on your face.

What makes Even Realities different from Meta and Snap?