AR glasses company Xreal hits $1 billion valuation in latest funding round
Xreal brought in $60 million in its latest funding round, bringing it to a $1 billion valuation.
Xreal is a start-up AR company that manufactures augmented reality glasses that allow users to enjoy games and other experiences through a unique virtual lens. As the company prepares to roll out the latest iteration of its AR glasses, it has crossed a major financial milestone. Xreal has topped a $1 billion valuation following its latest round of funding, cementing itself as one of the industry’s strongest rising stars.
Xreal’s $1 billion valuation was revealed in a Bloomberg report. The company raised $60 million in its latest funding round, which allowed it to hit the coveted billion-dollar valuation. In an interview, CEO Chi Xu said that the new funding “will help us scale our manufacturing capabilities and research and development.”
Xreal is currently preparing to launch the Air 2 Ultra, the newest model of its AR glasses. The glasses are going to start shipping in March, putting it in close proximity to Apple’s Vision Pro HMD.
Xreal neglected to say what companies participated in its latest funding round, but the new cash should be more than enough to make Xreal a formidable force in the AR space for the foreseeable future.
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