On November 7th, Zhidongxi reported that this morning, the largest single financing in the domestic AI+AR eyewear field in 2025 was born, which was won by the top player in the domestic XR track, Thunderbird Innovation.
The specific amount of this financing has not been officially announced. According to the industry chain, the total amount of Thunderbird Innovation’s Series C financing this year has approached 1 billion yuan.
Specifically, the single Series C financing of Thunderbird Innovation is jointly participated by CITIC Jinshi, CITIC Securities International Capital, and CITIC Securities Investment (all three companies are subsidiaries of CITIC Securities). The funds will be used to accelerate the technology research and development and ecological construction of AI+AR glasses.
According to public information, in September of this year, domestic XR brand VITURE (Beijing Xingzhewujiang Technology Co., Ltd.) completed two rounds of additional Series B financing, with a total amount of $100 million (approximately RMB 700 million). Previously, this financing was considered the largest of the year, but it was completed in multiple installments.
It is worth mentioning that in a podcast conversation between Li Hongwei, CEO of Thunderbird Innovation, and technology blogger Wang Ziroom on October 22, Li Hongwei revealed a large amount of financing related information.
Regarding the financing amount, Li Hongwei mentioned that the new round of financing will raise about 800 million yuan, which is more than expected. The original plan was to raise 300-400 million yuan.
Li Hongwei, CEO of Thunderbird Innovation, revealed financing related information in a podcast, source: Wang Ziroom AI Podcast
Li Hongwei mentioned in the podcast that the company’s new round of financing was progressing smoothly at that time, with a significant amount of over fundraising. The previous round of financing had already been conducted for about eight or nine rounds. Li Hongwei said in his blog: ‘We may define it as something like B++++.’. ”
Just last month, Thunderbird just released the world’s first AR glasses Thunderbird Air 4 series that supports HDR display, with a starting price of 1599 yuan. On May 27th of this year, Thunderbird released the world’s first mass-produced binocular full-color MicroLED+waveguide AR+AI glasses Thunderbird X3 Pro, with a starting price of 8999 yuan.
▲ Thunderbird Air 4 Series New Product Launch Event, Image Source: Zhidongxi
At present, its product portfolio includes AI+AR glasses X series, viewing glasses Air series, and AI shooting glasses V series. The Air series has ranked first in China’s consumer AR glasses sales for three consecutive years.
According to the latest data from JD’s hot selling list of smart glasses, three of the top 10 products are innovative Thunderbird products, including Thunderbird V3, Thunderbird X3 Pro, and Thunderbird V3 Slim. The fourth ranked Thunderbird V3 has sold 500 units in 30 days, with over 10000 units sold.
▲ JD Smart Glasses Hot Selling List, Image Source: JD App
Thunderbird Innovation was established in October 2021, with technical accumulation in the fields of near eye display optical design, self-developed AI algorithm models, and multimodal human-computer interaction. It has the ability to independently develop and mass produce core optical solutions throughout the entire process.
According to data from renowned research firm Counterpoint Research, in the second quarter of 2025, Thunderbird Innovation ranked first in global AR glasses sales with a market share of 39%. Previously, Thunderbird Innovation ranked first in China for three and a half consecutive years. At present, Thunderbird’s innovative products cover over 25 countries and regions worldwide.
Global AR smart glasses brand manufacturers’ shipment share in Q2 2025, source: Counterpoint Research
Conclusion: The AI eyewear race is booming, and capital integration accelerates the maturity of product technology
From last year to this year, multiple startups in the XR field have completed new or multiple rounds of financing. The recognition of the capital market and the support of new financing will inevitably inject momentum into the development of the emerging category of AI glasses.
With the entry of major manufacturers into the AI eyewear market, it further injects vitality into this market and drives overall market growth. 2026 may become a crucial year for the changing landscape of the AI glasses race.
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