XREAL’s $60 Million Investment Boost: Ready to Challenge Apple’s Vision Pro

Chinese smart glasses manufacturer XREAL has secured $60 Million in new funding and is reportedly planning to go public with an initial public offering (IPO) within the next two years.

The CEO of XREAL has set his sights on competing with Apple’s Vision Pro.

According to Bloomberg, as of the 29th (local time), XREAL recently attracted a $60 million investment, bringing the total secured investments to an estimated $300 million.

Chi Xu, the founder and CEO of XREAL, informed Bloomberg that “The company is now valued at $1 billion.”

Established in Beijing, China, in 2017, XREAL specializes in manufacturing augmented reality (AR)-based smart glasses.

Xu stated that XREAL aims to generate $150 million by producing up to 1 million units this year, and with the recent investment, they are expected to manufacture 2 million units in 2025.

Market research firm IDC reported that in the third quarter of 2023, XREAL held a 4% market share in the mixed reality (XR) market, which combines AR and Virtual Reality (VR). Companies like Meta, Sony, and China’s ByteDance follow closely behind.

However, Xu expressed confidence to Bloomberg, saying, “I believe that Apple’s technology level is 3-5 years ahead of us, and we will be able to compete with Apple in the next few years.” This statement appeared aimed at Apple, which recently unveiled its XR headset, Vision Pro.

Bloomberg reports that XREAL is gearing up for a U.S. IPO in 2026.