Meta and Snap rolled out new smart glasses last month, the latest sign that the industry is racing to put a camera and an AI assistant onto users’ faces. As the fast-growing market heats up, upstarts like Even Realities are muscling in on the giants. Even Realities, a three-year-old Shenzhen-headquartered startup, has raised $150 million in a pre-Series B round led by Meituan and previous backer Tencent; the round valued the startup at $1 billion. Even’s earlier backers are mostly high-profile China names including HSG (formerly Sequoia China). Even was started by ex-Apple engineers in 2023. CEO Wang worked on the Apple Watch and iPhone; other co-founders came from tech, and two came from luxury eyewear companies, including Lindberg. The startup moved quickly, launching its first product, Even G1, in 2024 as what Wang calls the lightest waveguide smart glasses then on the market.
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