Shanghai Moody Technology is exploring a potential sale that could value the colored contact lens maker at about $1 billion, according to people familiar with the matter. The company, founded in 2019, is working with an adviser and may begin sounding out prospective buyers No final decisions have been made, and a company representative did not respond to requests for comment. Moody recently raised more than 1 billion yuan ($145 million) in a Series C funding round led by 5Y Capital and KKR & Co. in 2021, with additional backing from GGV Capital and Hillhouse Investment.

The move suggests the startup is positioning itself for a potential exit as investor interest in consumer tech continues to evolve. While details remain fluid, the proposed $1 billion valuation would represent significant growth from its 2021 fundraising. The outcome could influence other Chinese consumer tech companies considering strategic exits or acquisitions.

Moody's focus on cosmetic lenses and related products has helped it build a niche in the competitive eyewear market.