Xreal, an Apple Vision Pro competitor financed by Alibaba, says it’s now a unicorn in AR glasses
BEIJING — Xreal, a company specializing in augmented reality glasses and backed by Alibaba, announced on Monday that it has secured $60 million in new funding, propelling its valuation to over $1 billion.
This notable valuation marks Xreal as a startup unicorn, a pioneering achievement within the AR glasses industry, according to the company. However, specific details about the participants in this recent funding round were not disclosed.
Augmented reality (AR) technology enriches the real world by overlaying digital images onto it. Apple is set to release its Vision Pro virtual reality headset in the U.S. on Feb. 2, incorporating “spatial computing” technology to enable users to perceive the real world in a unique way.
Xreal’s latest AR glasses model, the Air 2 Ultra, is slated to commence shipping in March and is currently available for pre-order at $699. This pricing stands in stark contrast to Apple’s Vision Pro, which carries a hefty price tag of approximately $3,500.
As of January 8, Xreal reported having shipped 350,000 AR glasses since its inception in 2017, showcasing significant growth from 250,000 units in October and 150,000 units in May of the same year.
The newly acquired $60 million funding is earmarked for research and development initiatives, along with expanding manufacturing capabilities, as revealed by the startup. Xreal highlighted that the total investment from backers has now reached an impressive $300 million, underscoring the confidence and support it has garnered from the investment community. (Source:cnbc.com)
