Smart glasses startup Even Realities has reached a $1 billion valuation after securing $150 million in fresh funding, with Meituan leading the round and Tencent also participating. The Shenzhen-based company is emerging as one of the most closely watched names in the next wave of wearable computing.
Founded in 2023 by former Apple engineers, Even Realities has taken a different path from camera-first smart glasses. Instead of focusing on content capture, the company builds display-first eyewear that projects information directly into the wearer's field of view, with privacy positioned as a core design principle.
The company launched its first product, the G1, in 2024 and later introduced the G2, which removes the camera entirely. Users interact with the glasses through the Even R1 smart ring, tapping and swiping to control functions such as translation, summaries, and live conversation support.
CEO Will Wang says the company's strength lies in optics, where microchip design, waveguides, and display performance are developed together. Even's proprietary Even HAO system is built as an integrated optical stack, combining hardware and prescription support from the start.
Even Realities says its user base is growing fastest in the U.S., while demand is also building across Japan, South Korea, the Middle East, and Europe. The company reports that its products are already selling at a premium level in the category, with average orders reaching around $1,000 when accessories are included.
As smart glasses evolve from experimental gadgets into practical daily devices, Even Realities' rise suggests a future where wearable computing becomes more personal, more discreet, and more seamlessly integrated into everyday life.
