Even Realities Raises $150M, Reaches $1B Valuation

Even Realities, a start‑up founded by former Apple engineers, announced that it has secured $150 million in new funding from Meituan and Tencent, valuing the company at $1 billion. The capital infusion follows a Series B round that underscores the growing interest in camera‑free augmented‑reality (AR) eyewear, a niche that promises enhanced privacy and lower power consumption compared to camera‑enabled counterparts.

The company’s flagship product is a lightweight pair of smart glasses that project digital information onto the wearer’s field of view without using any cameras. By relying on sensors such as inertial measurement units and depth cameras, Even Realities aims to deliver real‑time overlays for navigation, productivity, and entertainment while sidestepping the privacy concerns that have slowed broader AR adoption. The new investment will accelerate hardware development, expand the engineering team, and support market entry in key regions, including China and the United States.

With the backing of Meituan and Tencent, Even Realities is positioned to compete with larger AR players while carving out a distinct segment focused on privacy‑centric, low‑power eyewear. The company plans to begin pilot deployments with enterprise clients later this year, potentially setting the stage for a consumer launch in 2025.