China's INMO raises $150M Series C, tops 95% of peers, and eyes an IPO
What's the deal? Smart-glasses maker INMO has raised a 1 billion yuan (about $150 million) Series C, led by Sichuan Zhenxing Sci-tech Innovation Fund. Jing'an Capital, Shibei High-tech, Guangzhou Industrial Investment, Sichuan Zhongshi, Meishan Zhongshi, and Dongpo State Investment joined. The figure is cumulative across the company's C1, C2, and latest C3 tranches, following earlier closes this year.
By the numbers: The round ranks in the 95th percentile of all-time Series C deals for consumer electronics in China, based on a sample of 88 comparable rounds. INMO says revenue has grown more than 200% year on year for several years running.
What's the endgame? Founded in late 2020, INMO builds lightweight, all-in-one smart glasses that fold optics, local computing, and AI sensing into the frame — no phone or external unit required. It runs its own INMO AIOS operating system across its AIR and GO product lines. The new capital funds a next-generation spatial-computing hardware line, further AIOS development, and wider retail distribution.
Why now? Smart glasses are among the most-watched segments in consumer electronics. IDC data show global AI smart-glasses shipments grew more than 200% in 2025; in China, first-half 2026 sales reached 909,000 units, up 85.5% year on year, worth 1.88 billion yuan.
Between the lines: The market is shifting from phone accessories to standalone devices. Integrated AR glasses rose from a 9:91 sales split against split-unit products in the first quarter of 2025 to 47:53 by the second quarter of 2026. "Users don't need a screen strapped to their face; they need an intelligent agent that runs independently of a phone," founder and chief executive officer Yang Longsheng said (translated from Chinese).
What's next? INMO has formally begun preparations for an initial public offering. It is also broadening its consumer reach: an INMO x Magic AIDealroom has a profile for this one. Try Dealroom → series co-designed with musician Jackson Wang drew 50,000 pre-orders, debuting in North America in July.
The signal: As large models blur the lines between apps, hardware makers are betting the next battleground is device independence and native AI, not raw specs. INMO's push toward all-in-one glasses — and toward public markets — is a wager that the category is graduating from geek gadget to everyday product.
Read more: 36kr.com
Image credit: INMO
