Xreal Air 2 in action. Xreal's augmented reality glasses are compatible with gaming consoles and allow users to play games on a large virtual screen
Xreal
BEIJING — Alibaba.comAugmented reality glasses company Xreal-backed company said Monday it has received $60 million in new funding, giving the company a valuation of more than $1 billion.
That valuation gives the startup unicorn status, the first in the AR glasses industry, Xreal claimed. It was not shared who participated in the latest round of funding.
Augmented reality (AR) technology makes it possible to superimpose digital images on top of the real world.
AppleThe Vision Pro virtual reality headset, which will be released in the US on February 2, will also allow users to see the real world using what the company calls “spatial computing” technology.
Xreal's latest AR glasses model, the Air 2 Ultra, will ship in March. It's available for pre-order for $699, a fraction of Apple's roughly $3,500 price tag for the Vision Pro.
On January 8, Xreal said it had shipped 350,000 AR glasses since the company launched in 2017. That's up from 250,000 units in October and 150,000 units in May.
The startup said it plans to use the latest funding for research and development, as well as factory expansion. Total investor support now stands at $300 million, Xreal said.
– CNBC's Arjun Kharpal contributed to this report.