Chinese AR Glasses Maker Raises $60 Million to Compete With Apple
- Xreal CEO says company is aiming to go public within two years
- Startup owns about half of still-nascent AR devices market
XREAL Air 2 Pro augmented reality glasses during the 2024 CES event in Las Vegas.
Photographer: Bridget Bennett/BloombergThis article is for subscribers only.
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.