Jimi AI glasses subsidiary raised over 100 million yuan in one year

On May 26, Jimi Technology, a well-known projection equipment company, announced that its holding subsidiary Shenzhen Changchun Innovation Intelligent Technology Co., Ltd. has recently completed a new round of capital increase and share expansion, bringing in a total investment of 60 million yuan. Among them, CICC Emerging Private Equity Investment Fund (Qingdao) Partnership (Limited Partnership) invested 25 million yuan, and two unrelated shareholders invested 35 million yuan to jointly subscribe for 7.2288% of the equity of Shenzhen Fayuan after the capital increase.

This financing agreement has a repurchase clause. If Shenzhen Favor fails to complete the qualified listing before December 31, 2034, the investors have the right to require a repurchase at an annualized interest rate of 6%.

Jimi Technology stated that the purpose of this capital increase is to enhance the capital strength of the company’s holding subsidiary Shenzhen Favor and promote the development of AI glasses business.

After the capital increase is completed, the shareholding ratio of Jimi Technology will be changed from 47.6883% to 44.2411%, and Shenzhen Changchun will still be a holding subsidiary of Jimi Technology. It is worth noting that this is the second round of financing completed by Shenzhen Fayuan in the past 12 months. In December 2025, the company received an angel round investment of 50 million yuan. With this financing, Shenzhen Favor's cumulative financing has reached 110 million yuan.

Shenzhen Favor is the core carrier of Jimi Technology’s AI glasses business and the operating entity of the AI ​​glasses brand "MemoMind".

In January 2026, Jimi Technology officially released the MemoMind brand and product matrix at the CES International Consumer Electronics Show in Las Vegas. The brand includes three series of products: MemoMind One, MemoMind Air Display and MemoMind Air, which cover different application scenarios such as full-function display, lightweight information prompts and pure AI audio.

Among them, MemoMind One is the flagship model, equipped with a Micro LED binocular display solution and optical waveguide technology. The screen only lights up when called, and can provide visual information such as message reminders, graphical navigation, real-time translation, and intelligent prompting. It can last up to 16 hours in low display power consumption mode.

MemoMind Air Display focuses on a minimalist wearing experience. It adopts a Micro LED monocular display design and eliminates the built-in speaker. The whole machine weighs only 28.9 grams. It can last up to a week when used with the charging box. It mainly provides basic information such as navigation arrows, translated subtitles, and message prompts.

MemoMind Air completely abandons the visual display module, takes AI audio interaction as the core, and provides audio and non-audio versions. The specific functions are still confidential.

All three products are equipped with a multi-model hybrid operating system, supporting mainstream AI models such as OpenAI, Azure, and Tongyi Qianwen, and can automatically match the most appropriate model according to the type of task. MemoMind One is expected to be released in the second quarter of 2026, priced at approximately US$599.

Jimi moves from projection to smart glasses and automotive optics

Jimi Technology’s introduction of external investment into its smart glasses subsidiary this time is essentially the company’s choice to expand into new scenarios after facing the slowdown in the growth of its main projection display business.

In 2025, Jimi Technology’s revenue will only grow by 1.85% year-on-year, and the growth rate of the domestic projection market has slowed down significantly due to the impact of the macro consumption environment. Against this background, XGIMI has listed vehicle-mounted optics and AI smart glasses as two key expansion directions: the former relies on smart cockpit scenarios to realize the commercialization of projection technology, and the latter is targeting the wearable AI device track, which is accelerating growth. XGIMI's business expansion is not only the reuse of existing optical technology capabilities, but also the entrance to future smart terminals.

From the perspective of the smart glasses track, XGIMI’s underlying advantage in entering this field comes from its optical technology system accumulated over the years. The company has built complete capabilities in self-developed optical machinery, lighting optical design, imaging optical design and precision manufacturing processes. From 2024, the optical machinery used in projection products will be 100% independently developed, and it has established optoelectronic manufacturing bases in Yibin, Sichuan and Vietnam covering lenses, optical modules and complete machine production.

XGIMI’s optical manufacturing and R&D capabilities are highly adapted to the development needs of near-eye displays. In addition, the algorithm systems such as intelligent perception, automatic correction, and AI image quality optimization developed by the company on projection products can also be reused in human-computer interaction scenarios of smart glasses. The above technical advantages have greatly reduced the difficulty for XGIMI to enter the field of smart glasses.

This 60 million yuan financing will substantially promote the layout of XGIMI’s smart glasses, and will provide relatively sufficient starting capital for the research and development, supply chain construction and marketing of MemoMind brand products. In the increasingly competitive smart glasses track, this financing has bought more time for XGIMI to complete the research and development and supply chain accumulation of smart glasses products.

Rapid inflow of capital increases competition in the AR glasses industry

The latest capital increase adds new momentum to XGIMI’s expansion into the smart glasses market. In fact, in 2026, the smart glasses industry is entering a period of intensive financing, and financing dynamics occur frequently in various industrial links, including Micro LED microdisplays, Micro OLED microdisplays, AR optical waveguides, AR glasses terminals, etc. All companies hope to gain opportunities for technology research and development and market layout through the injection of new funds.

In particular, in the AR glasses terminal link deployed by Jimi, in the first half of this year alone, Thunderbird Innovation, Rokid, Light Particle Technology, VITURE, Tribute to the Unknown, Shadow Technology and other companies have completed the latest financing, with the highest financing amount reaching 686 million yuan.

As capital pours into the smart glasses track at an accelerated pace, competition in the smart glasses industry is shifting from a single technology competition to a comprehensive competition covering optical research and development, supply chain integration and commercialization.

Relying on the optical technology system and full-chain manufacturing capabilities accumulated over more than ten years, Jimi Technology quickly entered the field of AI glasses through Shenzhen Favor, an independent carrier, and completed two rounds of financing totaling 110 million yuan within one year, reserving necessary start-up resources for the product development and marketing of the MemoMind brand.

In the critical stage of smart glasses moving from concept to large-scale commercial use, whether XGIMI can successfully transfer its deep accumulation in the field of projection to near-eye display scenarios and establish differentiated advantages in an increasingly crowded track remains to be tested by the subsequent market.