It is reported that XREAL was founded in 2017. The company is committed to the research and development, production and sales of AR terminals. Its products have entered many countries and markets such as China, the United States, Japan, South Korea, the United Kingdom, Spain, and Germany.
Prior to this investment from Pudong Venture Capital, XREAL has completed multiple rounds of financing, with a cumulative amount of hundreds of millions of dollars. The investors behind it include well-known investment institutions such as Sequoia China, Yunfeng Fund, China Capital, Hillhouse Ventures, and Hongtai Fund. Industry giants such as Alibaba, Kuaishou, and NIO have also deeply intervened as strategic investors.
In terms of products, XREAL has released a variety of AR glasses products such as XREAL Air 2, XREAL Air 2 Pro, XREAL One series, Air 2 Ultra, etc., all equipped with Micro OLED micro displays.
In February this year, XREAL and Hisense Vision Technology reached an in-depth strategic cooperation. The two parties will carry out technological collaboration, ecological co-construction and global market expansion in the field of AR/AI glasses. The first "AR high-end viewing" jointly developed by the two parties.Product" will be released in the second half of this year.
In terms of production projects, in February 2024, XREAL invested a total of 2 billion yuan in a smart AR glasses optical display module R&D and manufacturing project and settled in Suzhou Kunshan Development Zone. The project is mainly engaged in the R&D and manufacturing of AR glasses core optical display modules. After the project is completed, it is expected to produce 3.5 million sets of AR glasses optical modules annually and achieve annual sales of 10.5 billion yuan.
ANNA