LetinAR raises $18.5M for AI glasses optics, targets 2027 IPO

LetinAR, a South Korean startup specializing in optical modules for AI-driven smart glasses, has raised $18.5 million from investors including Korea Development Bank and Lotte Ventures, in preparation for a 2027 IPO. Established in 2016 by CEO Jaehyeok Kim and CTO Jeonghun Ha, the firm has dedicated a decade to developing its PinTILT lens technology, which utilizes miniature optical components to accurately channel light into the eye, providing a lighter, thinner, and more energy-efficient option compared to traditional waveguide and birdbath methods. Currently, LetinAR supplies modules to clients like Japan's NTT QONOQ Devices and Dynabook, while also engaging with major tech companies for AI glasses research. A notable partnership is with Aegis Rider, a Swiss deeptech firm from ETH Zurich, which is incorporating LetinAR's module into an AI-enhanced AR helmet for motorcyclists, aiming for a 2026 launch in the EU and Switzerland. According to Omdia, global shipments of AI glasses reached 8.7 million units in 2025, representing a year-on-year increase of over 300%, with expectations to surpass 15 million in 2026. Since 2023, Meta has been selling AI-equipped Ray-Ban glasses, Google is developing Android XR, and Samsung is anticipated to reveal AI smart glasses co-created with Gentle Monster at a Galaxy Unpacked event in London in July 2026. LetinAR's total funding now amounts to $41.7 million.