MemoMind receives another 60 million yuan in financing, and Xgimi Technology sets an 8-year timeline for the AI glasses subsidiary to go public.

On the evening of May 25, Xgimi Technology announced that its controlling subsidiary, the operating entity of the AI glasses brand "MemoMind", Shenzhen Qinglai Innovation Intelligent Technology Co., Ltd., plans to increase capital and expand shares, introducing a total of 60 million yuan from investors including Zhongjin Emerging Fund. Xgimi Technology once again waived its preemptive rights. It is worth noting that, including the 50 million yuan financing completed in the past 12 months, Shenzhen Qinglai has accumulated 110 million yuan of external investment within a year. After continuously waiving the increase in capital, Xgimi Technology's stake in this subsidiary will be diluted from the original 51% to 44.2411%. More importantly, this round of financing agreement includes a clear repurchase clause, which stipulates that if Shenzhen Qinglai fails to complete a qualified listing by December 31, 2034, the investors have the right to require Xgimi Technology to repurchase at an annualized interest rate of 6%. This means that Xgimi Technology has already set up an 8.5-year "timeline" for the AI glasses business to go public.