Chinese Company Developing AR Glasses Raises $60 Million to Compete with Tech Giants AppleMeta and Google

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Tech News Summary:

  • Xreal, a Chinese AR glasses maker, is raising $60 million in funding to stay ahead of tech giants such as AppleMeta and Google.
  • The company aims to expand its manufacturing, research, and development capabilities and plans to produce between 500,000 and 1 million units this year and up to 2 million devices next year.
  • Xreal’s flagship product, Air glasses, currently holds about 4% of the AR device market and is positioning itself as a strong contender against industry heavyweights.

Chinese augmented reality (AR) glasses maker, XG Vision, has announced that it has secured $60 million in funding to take on tech giants AppleMeta and Google in the AR market.

The funding round was led by a consortium of investors, including venture capital firms and strategic partners from the technology industry. With this new capital injection, XG Vision plans to accelerate the development and commercialization of its AR glasses, which are poised to rival the offerings of AppleMeta’s Meta Glasses and Google’s Glass Enterprise Edition.

XG Vision’s AR glasses are touted for their advanced features and sleek design, offering users a seamless and immersive experience in the augmented reality space. The company aims to cater to a wide range of applications, including gaming, entertainment, education, and enterprise solutions.

“We are thrilled to have the support of our investors as we enter the next phase of growth and innovation,” said XG Vision CEO, Li Wei. “With this funding, we are well-positioned to compete with the major players in the AR market and bring our cutting-edge technology to consumers and businesses around the world.”

The AR market has seen significant growth in recent years, with more companies and consumers embracing the potential of augmented reality technology. As competition heats up, XG Vision’s latest funding round signals its determination to challenge the dominance of AppleMeta and Google in the AR glasses market.

With this new injection of capital, XG Vision is poised to make a splash in the AR industry and bring its innovative technology to the forefront of the market. The company’s ambitious plans and strategic partnerships could make it a formidable contender in the battle for supremacy in the AR space.

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