XREAL, a consumer augmented reality (AR) glasses provider, has successfully secured an additional USD $60 million in funding through a new strategic round, bringing their total funding to USD $300 million, according to Auganix.

The company, backed by investors like Alibaba, Nio Capital, Sequoia, and Kuaishou, plans to utilize the fresh capital for research and development as well as expanding its manufacturing facilities. The funds will predominantly support the development and production of the company's proprietary optical engine for its AR glasses.