Even Realities, a Shenzhen-based startup, has raised $150m at a $1bn valuation led by Meituan and Tencent, becoming a unicorn. Its camera-free smart glasses display notifications, live translations, and directions via a lens-embedded display controlled by a companion ring. The privacy-first design — no camera, encrypted voice-to-text, GDPR compliance — is a deliberate counter to Meta's Ray-Ban glasses, which face lawsuits and regulatory scrutiny over covert recording. Even's user base is majority US-based despite Chinese roots, and it claims to be the first in its category to sell over 10,000 pairs. The glasses start at $599, with typical orders near $1,000. Competitors like XREAL and Viture are also raising heavily, making the display-only glasses segment increasingly crowded.
