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Wednesday, May 22, 2024

Alibaba-backed Xreal claims to be an AR glasses unicorn

Xreal Air 2 in action. Xreal’s augmented reality glasses is compatible with gaming consoles and can allow users to play games on a large virtual screen. Xreal

Big News in the AR World!

It’s an exciting time in the augmented reality (AR) industry as Alibaba-backed company Xreal has just announced a major milestone. The company revealed that it has received $60 million in new funding, bringing its valuation to over $1 billion. This puts Xreal in the coveted unicorn status, making it the first AR glasses company to achieve this.

For those unfamiliar with AR technology, it allows digital images to be imposed over the real world, creating an immersive and interactive experience for users. And with the rise of AR, companies like Xreal are at the forefront of innovation.

Xreal’s latest model, the Air 2 Ultra, is set to hit the market in March and is already available for pre-order at a fraction of the price of competitors like Apple. Retailing at $699, the Air 2 Ultra offers an affordable alternative to Apple’s Vision Pro virtual reality headset, which comes with a hefty price tag of around $3,500.

In addition to its impressive funding and new product launch, Xreal also reported a significant milestone in sales. Since its launch in 2017, the company has shipped a whopping 350,000 AR glasses. This is a substantial increase from previous figures, with 250,000 units shipped as of October and 150,000 units as of May.

So, what’s next for Xreal? The company has ambitious plans to use the latest funding for research and development, as well as expanding its production facilities. With a total backing of $300 million from investors, Xreal is well-positioned to continue driving innovation in the AR space.

In the larger AR landscape, Apple’s upcoming Vision Pro VR headset also promises to offer users a unique spatial computing experience, allowing them to seamlessly integrate virtual and real-world environments. As competition heats up in the AR and VR market, companies like Xreal and Apple are pushing the boundaries of what is possible with these emerging technologies.

With the AR industry experiencing rapid growth and innovation, the future looks bright for companies like Xreal. As the demand for AR glasses and VR headsets continues to rise, we can expect to see even more exciting developments in the AR space in the coming years.

Exciting times ahead for AR technology!

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