Smart glasses maker Even Realities hits $1B valuation with $150M funding led by Meituan, Tencent

2026-07-06 · Source: TechCrunch · Field: Technology & Digital — Artificial Intelligence & Machine Learning, Internet of Things (IoT) & Connected Devices, Emerging Technologies & Innovation · Depth: Fundamental Awareness, short

Summary

Smart glasses maker Even Realities, a three-year-old Shenzhen-headquartered startup, recently secured \$150 million in a pre-Series B funding round, achieving a \$1 billion valuation. This round was led by Meituan and existing investor Tencent. Founded in 2023 by ex-Apple engineers, Even Realities launched its first product, Even G1, in 2024, selling over 10,000 units. Its latest flagship, Even G2, released last November, notably omits a camera, focusing instead on a display-first approach that beams information directly into the wearer's line of sight, controlled by the Even R1 companion ring. This design prioritizes privacy, with features like real-time conversation transcription and encrypted user data, adhering to strict European privacy standards. The company has heavily invested in proprietary optical technology called Even HAO, integrating microchips, waveguides, and prescription support. Even Realities targets male professionals aged 30-50, with over half its users in the U.S., selling its frames for \$599, with average orders reaching \$1,000 including accessories.

Key takeaway

AI Product Managers designing wearable tech should note Even Realities' success. Their display-first, camera-less approach shows that prioritizing privacy and advanced optics drives market traction and valuation. Consider how integrated optical technology and robust privacy features, like real-time transcription, can differentiate your product. This strategy appeals to professionals seeking utility without compromising personal data.

Key insights

Even Realities demonstrates a successful display-first smart glasses strategy prioritizing privacy and advanced optics over cameras.

Principles

• Privacy-by-design is crucial for personal devices.
• Optical technology is key differentiator in smart glasses.
• Proprietary end-to-end hardware integration yields market advantage.

Method

Even Realities developed Holistic Adaptive Optics (HAO), an end-to-end design integrating microchip, waveguide, and prescription support from the outset, rather than combining separate components.

In practice

• Implement display-first smart glasses for privacy-conscious users.
• Develop real-time conversation copilots for professional assistance.
• Design hardware and software for strict privacy compliance.

Topics

• Smart Glasses
• Wearable Technology
• Even Realities
• Optical Displays
• Privacy-by-Design
• Venture Capital Funding

Best for: Product Manager, Entrepreneur, Investor, AI Product Manager

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Editorial summary, takeaway, and curation by AIssential. Original article published by TechCrunch.