Xreal, supported by Alibaba and competing with Apple’s Vision Pro, asserts that it has achieved unicorn status in the realm of augmented reality glasses.

Alibaba-backed augmented reality glasses company, Xreal, announced on Monday that it secured $60 million in new funding, propelling its valuation to over $1 billion. This milestone designates the startup as the first unicorn in the AR glasses industry, although the participants in the latest funding round were not disclosed.

Augmented reality (AR) technology overlays digital images onto the real world. Apple’s upcoming Vision Pro virtual reality headset, slated for release in the U.S. on Feb. 2, also incorporates “spatial computing” technology to enable users to interact with the real world.

Xreal’s latest AR glasses model, the Air 2 Ultra, is scheduled to commence shipping in March and is available for pre-order at $699. This price is a significant contrast to Apple’s Vision Pro, which comes with a price tag of around $3,500.

As of Jan. 8, Xreal reported shipping 350,000 AR glasses since its launch in 2017, showing substantial growth from 250,000 units in October and 150,000 units in May. The company intends to allocate the newly acquired funds towards research and development, as well as expanding its manufacturing facilities. With the latest funding, Xreal’s total backing from investors has now reached $300 million.

SpaceX’s Falcon Heavy Successfully Launches NASA’s Psyche Mission to a Distant Asteroid

SpaceX’s powerful Falcon Heavy rocket successfully launched on Friday morning, embarking on a significant mission for NASA. The primary objective of the launch was to carry a NASA mission bound for a distant asteroid, marking a crucial milestone in space exploration.

Taking aim at the asteroid Psyche, the eponymous NASA mission involved a spacecraft roughly the size of a tennis court. The ambitious journey is expected to span almost six years, covering a staggering distance of about 2.2 billion miles, ultimately reaching the planetary body in July 2029.

The historic takeoff occurred precisely at 10:19 a.m. ET from NASA’s renowned Kennedy Space Center situated in Florida, attracting attention from space enthusiasts worldwide.

The key focus of the Psyche mission revolves around NASA’s keen interest in unraveling the mysterious composition of the asteroid. According to the agency, Psyche is characterized as “an unusual object likely rich in metal.” To conduct comprehensive research, the Psyche spacecraft is equipped with an array of sophisticated scientific tools, including specialized instruments designed to study the asteroid’s magnetic field and chemical makeup in-depth.

In line with the monumental scope of the mission, NASA has allocated approximately $1.2 billion for the Psyche mission, encompassing both development and operational costs. Notably, a substantial portion of this budget has been dedicated to SpaceX, with a contract worth around $131 million granted to facilitate the launch of the mission.

The successful execution of the Psyche mission marks a significant achievement for SpaceX, representing the eighth launch of its Falcon Heavy rocket, widely acknowledged as the company’s most powerful operational asset. Demonstrating their commitment to sustainability and cost-effectiveness, SpaceX efficiently recovered the rocket’s pair of side boosters, paving the way for their future reuse in subsequent launches.

With the Psyche mission poised to unlock unprecedented insights into the enigmatic properties of the asteroid Psyche, the collaborative efforts of NASA and SpaceX continue to push the boundaries of scientific exploration and technological advancement in the realm of space travel.