Even Realities, a three-year-old startup headquartered in Shenzhen, has secured $150 million in funding, valuing the company at $1 billion. This pre-Series B round was led by Meituan and Tencent, with previous backing from Sequoia China.

The company's CEO, Will Wang, believes that while rivals focus on camera-equipped devices for content capture, his firm is betting on display-first glasses designed to beam information directly into the wearer’s line of sight. The Even G2 model, launched in November 2024, skips the camera entirely, feeding information through a heads-up display controlled by an accompanying ring.

Wang emphasizes privacy as a cornerstone of their philosophy, stating that smart glasses are among the most personal devices ever worn and must be comfortable for both the wearer and those around them. The Even G2 model does not store recordings but transcribes audio into text with voice features like translation. User data is encrypted, and infrastructure meets Europe's strict privacy standards.

Driven by a focus on optics technology, Even Realities has developed proprietary optical technology called Even HAO, which integrates the microchip, waveguide, and prescription support from the start. The company sells primarily to U.S.-based users and developers but also caters to markets in Japan, South Korea, the Middle East, and Europe.

With a price point of around $1,000 for their top-of-the-line glasses, Even Realities has become profitable, targeting male professionals aged 30-50. Despite not selling in China yet, demand is significant, prompting the company to ensure they are well-prepared before expanding.