The Shenzhen Smart Glass Enterprise Even Realities completed a $150 million Pre-B round of financing, valued at $1 billion. This round is led by the United States, and the old shareholders continue to follow suit. TechCrunch reported that the company was betting on smart glasses that were shown to be at the core, rather than the route around filming and content gathering.
Main cameraless design.
Even Realities was founded in 2023 with its headquarters in Shenzhen and founded by a former Apple Engineer. The founder and CEO Wang Wai was involved in the Apple Watch and iPhone projects, and the joint founding team included people from the technology and high-end glasses industries.
The company launched the first product G1 in 2024. Wang Wai claimed that the product was one of the lightest wave-guided smart glasses on the market. Unlike a number of similar products, Even does not use cameras as a core configuration, but rather emphasizes the direct projection of information into the user's view, while minimizing the impact on the privacy of the wearers and those around them.
Wang Wai indicated that functions such as voice translation would convert audio into text-processing rather than preserve sound recordings. The company also claims that user data are encrypted and that the bottom system is based on stricter European privacy standards.
Continue to bet on optical systems after financing
According to the company, the most important current direction of input remains optical performance. Wang Wai believes that the difference between smart glasses and mobile phones and watches is not on a regular screen, but on the optical display system itself, which requires a synergistic design of chips, optical modules and wave-guide programmes.
Even has developed a proprietary optical technology called Even HAO. According to the company, from the outset, the package integrates microchips, wave guides and near-vision mirrors into the same design, rather than aggregating different components later.
In addition to the missions and information, the company had previously invested in institutions such as Takashi, Redwood China and the North Pole.
America is the fastest growing market.
Wang Wei revealed that more than half of Even's users are from the United States, the fastest growing market in the United States, where the development community is concentrated. Although products are produced in China, companies are not currently available for sale in China, and at this stage key markets include the United States, Japan, Korea, the Middle East and Europe.
In terms of sales, the company claims that the download has exceeded the internally set target of 10,000 and expanded the size of the team from 30 to 40 in 2024 to 300 to 400 at present.
By company disclosure, the price of the eyeglass framework tax was $599; if prescription lenses or accessories were added, the average order would be around $1,000. According to Wang Wai, the company is now profitable, with its main clients being male professionals between the ages of 30 and 50, about one third of whom are in business management.