Alibaba-backed augmented reality (AR) glasses company Xreal recently secured a major new funding worth $60 million, raising its valuation to more than $1 billion. This achievement makes Xreal the first unicorn in the augmented reality glasses sector. However, details of the financing round have not been revealed.
Unveiling the Air 2 Ultra – Xreal's accessible augmented reality solution that's set to take on Apple's Vision Pro
Xreal is scheduled to start shipping its latest model of augmented reality glasses, the Air 2 Ultra, in March. At an attractive price of $699, these glasses offer advanced augmented reality technology at a consumer-friendly price. Positioned as a competitor to Apple's Vision Pro, which is priced around $3,500, Xreal's goal is to democratize augmented reality technology by offering a cost-effective alternative that doesn't compromise on quality. This strategy aligns with Xreal's mission to make augmented reality accessible to a wider audience.
Strategic use of funding for research, development and expansion
Since its founding in 2017, Xreal has shipped 350,000 AR headsets. With this latest round of financing, the company plans to accelerate growth. The investment will be directed towards research and development, with a focus on innovation in augmented reality technology. In addition, Xreal aims to expand its manufacturing capabilities and scale up operations to meet growing demand.
With a total investment of $300 million, Xreal has made continuous progress and remains committed to leading the way in augmented reality innovation. The startup's plan to invest in R&D and expand its manufacturing facilities underscores its dedication to improving its products and increasing production capacity.
Xreal's vision for the future
With Xreal reaching unicorn status and emerging as a strong competitor to Apple in the augmented reality glasses market, the strategic funding allocation and upcoming release of the Air 2 Ultra point to a bright future. By focusing on affordability and innovation, Xreal is well-positioned to transform the augmented reality landscape, making it more accessible and attractive to users globally.
