Even Realities, a Shenzhen-based smart glasses startup founded in 2023, has raised US$150 million in a pre-Series B funding round led by Meituan and existing investor Tencent.

The funding values the company at US$1 billion and comes as Meta and Snap launch new smart glasses products.

Founded by former Apple engineers, Even Realities makes display-first glasses without cameras.

The company said the design is meant to address privacy concerns around face-worn devices.

Its latest model, the G2, launched last November. It uses a floating heads-up display with micro-light-emitting diode and waveguide optics, weighs 36 grams, and works with a Bluetooth ring for tap-and-scroll controls.

CEO Will Wang said more than half of Even Realities’ users are in the US.

The company manufactures in China but does not yet sell there.

The funding comes as global smart glasses shipments surged 167% year on year in the first quarter of 2026, according to International Data Corporation, which forecasts 13.6 million shipments in 2026.

IDC said Meta held 69.2% of the global market in the quarter.

Snap has also unveiled new augmented reality glasses called Specs, which it plans to launch in late 2026 as a smaller, lighter successor to its earlier Spectacles.

🔗 Source: TechCrunch