Even Realities, a Shenzhen-based smart glasses startup, has raised $150 million in a pre-Series B funding round led by Meituan, with participation from existing investor Tencent, valuing the company at $1 billion and making it a unicorn. 

Founded in 2023 by former Apple engineers, Even Realities has positioned itself differently from many competitors by focusing on display-based smart glasses rather than devices equipped with cameras. 

Founder and chief executive Will Wang told TechCrunch that the company aims to provide information directly within the wearer's field of vision while placing greater emphasis on user privacy. Wang previously worked on the Apple Watch and iPhone.

The company's early investors include several prominent Chinese technology backers, among them Sequoia China. Even launched its first product, the Even G1, in 2024. 

Its latest product, the Even G2, was introduced in November last year. Unlike many rival smart glasses, the device does not include a camera. Instead, it features a built-in heads-up display and is operated through a companion smart ring, allowing users to navigate functions using taps and swipes. The decision to exclude a camera reflects the company's approach to privacy. 

The company's smart glasses retail from $599 before tax, with prescription lenses and the companion ring increasing the average purchase price to around $1,000.