Xreal Hits $1B Valuation, Secures $60M Funding
Alibaba-backed augmented reality (AR) glasses company Xreal has recently secured a significant $60 million in new funding, catapulting its valuation to over $1 billion. This milestone establishes Xreal as the first unicorn in the AR glasses sector. The specifics of the funding round, however, have not been disclosed.
Unveiling the Air 2 Ultra – Xreal’s Affordable AR Solution Set to Rival Apple’s Vision Pro
Xreal is set to begin shipping its latest AR glasses model, the Air 2 Ultra, in March. Priced at an attractive $699, these glasses offer advanced AR technology at a consumer-friendly price point. Positioned as a competitor to Apple’s Vision Pro, which is priced at around $3,500, Xreal’s goal is to democratise AR technology by offering a cost-effective alternative that doesn’t compromise on quality. This strategy is in line with Xreal’s mission to make AR accessible to a wider audience.
Strategic Use of Funding for Research, Development, and Expansion
Since its establishment in 2017, Xreal has shipped an impressive 350,000 AR glasses. With this latest round of funding, the company plans to accelerate growth. The investment will be directed towards research and development, focusing on innovation in AR technology. Additionally, Xreal aims to expand its manufacturing capabilities, scaling up operations to meet growing demand.
With total investments amounting to $300 million, Xreal has consistently progressed and remained committed to leading in AR 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
As Xreal attains unicorn status and emerges as a strong competitor to Apple in the AR glasses market, its strategic funding allocation and the upcoming release of the Air 2 Ultra signal a bright future. Centering on affordability and innovation, Xreal is well-positioned to transform the AR landscape, making it more accessible and engaging for users globally.