Chinese AR Glasses Maker Raises $60 Million to Compete With Apple, Meta and Google
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Augmented reality glasses maker Xreal is raising fresh funding at a valuation that tops $1 billion, according to Chief Executive Officer Chi Xu, aiming to get out ahead of future devices from Apple Inc., Meta Platforms Inc. and Alphabet Inc.'s Google.The Chinese startup is raising $60 million in the round, bringing its total to more than $300 million, Chi said in an interview. That latest money comes from a key supply chain partner that he declined to identify. “This will help us scale our manufacturing capabilities and research and development,” he said, adding that the company has enough capacity to meet demand for its glasses this year but needs the money to fulfill orders in 2025. We are on WhatsApp Channels. Click to join. Xreal is looking to blaze a trail in augmented reali...