Chinese AR glasses maker Xreal raises $60M at $1B+ valuation, aiming to compete with Apple, Meta, and Google in AR market.

Chinese augmented reality (AR) glasses maker Xreal has raised $60 million in funding at a valuation of over $1 billion, with the aim of competing with tech giants like Apple, Meta Platforms, and Alphabet's Google in the AR market. The company plans to use the funding for research and development as well as factory expansion. Xreal's AR glasses present notifications, games, and video in a wearer's field of view, offering an alternative to more costly technology from companies like Magic Leap and Microsoft.

January 29, 2024
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