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Xreal Air 2 in action. Xreal’s augmented reality glasses are compatible with gaming consoles and could allow users to play games on a larger virtual screen
xreal
Beijing — alibaba-backed augmented reality glasses company Xreal said Monday it received $60 million in new funding, bringing the company’s valuation to more than $1 billion.
Xreal claimed that this valuation grants the startup unicorn status, a first in the AR glasses industry. It did not share who participated in the latest funding round.
Augmented reality (AR) technology allows digital images to be superimposed onto the real world.
AppleThe Vision Pro virtual reality headset, set for release in the US on February 2, allows users to view the real world using what the company calls “spatial computing” technology.
Xreal’s latest AR glasses model, the Air 2 Ultra, is set to start shipping in March. It’s available for pre-order for $699, which is a fraction of the nearly $3,500 price tag of Apple’s Vision Pro.
On January 8, Axreal said it had shipped 350,000 AR glasses since the company launched in 2017. This compares to 250,000 units by October and 150,000 units by May.
The startup said it plans to use the latest funding for research and development as well as factory expansion. Axreal said the total backing from investors has now reached $300 million.
— CNBC’s Arjun Kharpal contributed to this report.
