Even Realities hits $1B valuation with camera-free smart glasses

Founded in 2023 by former Apple engineers, the company has grown from a staff of 40 to nearly 400 in just one year. Its flagship G2 glasses, launched last November, rely on a heads-up display navigated by the Even R1 companion ring. CEO Will Wang argues that by removing the camera, the company addresses the social discomfort and privacy concerns inherent in wearable computing. This design philosophy extends to voice features, which transcribe audio into text without storing recordings, meeting strict European data standards.

Even Realities distinguishes its hardware through its proprietary Holistic Adaptive Optics (HAO) technology, which integrates microchips, waveguides, and prescription lenses into a unified stack rather than assembling disparate off-the-shelf components. The strategy has resonated with a professional demographic; the company reports that one-third of its users are executives. With the U.S. serving as its largest and fastest-growing market, the firm maintains profitability despite a premium price point, where an average setup—including lenses and the navigation ring—reaches approximately $1,000.