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Apple veteran's Chinese smart-glasses firm becomes unicorn as Tencent, Meituan fund rival to Meta
Even Realities Technology reached a $1 billion valuation, backed by Tencent and Meituan to compete with Meta’s camera-heavy smart glasses.
What: Led by former Apple executive Will Wang, the Shenzhen-based startup raised $150 million to advance its G2 smart glasses, which feature a heads-up display but omit cameras to prioritize user privacy.
Why it matters: This reveals a bifurcated market: Meta dominates via camera-equipped consumer electronics, while companies like Even Realities are pursuing a 'privacy-first' niche with high adoption among US developers.
Decoder
- Unicorn: A privately held startup company valued at over $1 billion.
Original article
Even Realities Technology, founded by ex-Apple exec Will Wang, has reached unicorn status thanks to a $150 million funding round led by Tencent and Meituan.
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