Chinese Smart Glasses Startup Even Realities Hits $1 Billion Valuation After $150 Million Tencent-Backed Round

Chinese smart glasses startup Even Realities hits a $1 billion unicorn valuation after securing $150 million in Tencent-backed funding, with its privacy-focused G2 glasses challenging Meta's dominance in a market that surged 167% year-over-year in Q1 2026.

• Even Realities Technology, a Chinese smart-glasses startup founded by Apple veteran Will Wang, raises $150 million in a pre-Series B round backed by Tencent and Meituan, reaching a $1 billion unicorn valuation.
• The company's flagship G2 smart glasses differentiate themselves from Meta's Ray-Ban line by featuring no camera or recording hardware, instead focusing on privacy while delivering notifications, navigation, and live translation via a heads-up display.
• The global smart glasses market is surging, with shipments up 167% year-over-year in Q1 2026 and Meta controlling nearly 70% market share, as the category is projected to exceed 50 million units shipped annually by 2030.