Xreal has established itself as China's consumer AR unicorn, with high-performance products starting at $699, total funding of $300 million, and a large-scale industrialization strategy. The upcoming Project Aura, powered by Android XR and Gemini AI, puts the company ahead of giants such as Apple and Meta. For investors, tech enthusiasts, and users eager to discover AR, Xreal is now a company to watch very closely. Ready to understand why Xreal is a key player in spatial computing?
Introducing Xreal
Founded in 2017 in Beijing, the company, initially named Nreal, is now Xreal. It is headed by Chi Xu, co-founded with Bing Xiao and Jordan Maron. With approximately 100 to 150 employees in 2025, most of whom are dedicated to R&D, Xreal's mission is to make AR both accessible and stylish. Its in-house X1, which is used in glasses such as the Oneand Air 2 Ultra, provides an immersive Full HD experience at an affordable price. These models offer a field of view of up to 57°, gesture controls, Bose audio, and direct USB-C connectivity—much lighter and more economical than conventional AR headsets.
Growth and development
Xreal raised $60 million in early 2024, bringing $300 million in total funding since its inception, with investors including Alibaba, Sequoia, Kuaishou, Nio Capital, and Gentle Monster. This round strengthens its position as the leading unicorn in the consumer AR glasses sector.
To date, the company has sold more than 350,000 units by the end of 2023 and held approximately 51% of the global market for AR glasses (optical see-through). According to IDC, it ranks among the world's top five in mixed reality, with an estimated market share of 3.3% in 2024, just behind Apple, Sony, ByteDance, and Meta. Xreal also plans to increase its volumes: the goal is to ship 1 million units by the end of 2025, thanks to increased production capacity in Shanghai.
Financial performance (2024–2025)
The $60 million raised in 2024 was dedicated to innovation (R&D, improvement of the X1S processor, optimization of screens) and the industrialization of the brand. Chi Xu affirms that this injection consolidates the company's rapid development strategy and demonstrates a strong commitment from investors in Xreal's AR vision.
In terms of sales, Xreal posted annual growth of over 320% in the first nine months of 2023. Although precise revenue figures for 2024/2025 have not been published, cumulative deliveries and financing obtained suggest a robust upward trajectory and ongoing scalability.
Comparison: Xreal versus Apple and Meta
Xreal is a viable alternative to premium headsets such as Apple Vision Pro and Meta Ray-Ban / Orion. Its One Pro offers low latency (~3 ms compared to ~12 ms for Vision Pro), multi-device compatibility, and a more accessible compact design.
With the announced launch of Project Aura (expected between late 2025 and early 2026), Xreal is reaching a new milestone : bright fields of view at 70°, X1S + Snapdragon XR chip in an external "puck,", Android XR software suite with integrated Gemini AI, front-facing gesture tracking, integrated cameras and microphone – a design closer to classic glasses than a VR headset.
Apple, for its part, appears to be slowing down its own AR glasses project. Several prototypes have been canceled, leaving room for Xreal and its Android allies in this booming segment.
Xreal: key information
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