XREAL Announces Closing of $60 Million Strategic Funding Round

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(XR Navigation Network January 30, 2024）AR眼镜厂商XREAL) AR glasses maker XREAL has announced that XREAL has completed a new round of $60 million in strategic financing. It is reported that the team will use the funds for research and development and the expansion of the optical engine production base, and plans to significantly increase the production capacity of AR glasses since 2025, and the newly introduced strategic investors will give XREAL full technical and resource support in this direction. However, they did not disclose the name of the specific investor.

It's worth noting that the startup expects to produce another 500,000 to 1 million AR devices this year, with revenues reaching $100 million to $150 million, according to Bloomberg. By 2025, XREAL expects to produce as many as 2 million devices and translate into $200 million to $300 million in revenue.

Founded in 2017, XREAL is backed by investors including Crypto, Azure Capital, Yunfeng Fund, Sequoia China, Gao Tile, Hongtai Fund, CICC Capital, Jinpu Investment, Shunwei Capital, CPE Yuanfeng, Huachuang Capital, and Aqiyi. To date, this company has raised $300 million.

It's worth noting that this company unveiled new AR glasses during CES 2024: the XREAL Air 2 Ultra. the device comes with dual 3D ambient sensors and is priced at $699.

Regarding the financing, XREAL said in a statement, "This latest round of strategic financing solidifies our position in the global AR market and will advance our expansion goals."

In addition, XREAL's Founder and CEO, Xu Chi, noted, "XREAL's mission is to bring augmented reality wearable displays to every user around the world. We are further establishing XREAL as the world's leading and best-selling augmented reality eyewear and spatial computing brand through technology iterations, product updates, and open ecology."