XPANCEO Raises $250M for XR Contact Lens Technology, Achieves $1.35B Valuation
XPANCEO Raises $250M for XR Contact Lens Technology, Achieves $1.35B Valuation
XPANCEO, a leading deep tech company focused on developing smart contact lenses for extended reality (XR) applications, has secured a USD $250 million Series A funding round, pushing the company’s valuation to USD $1.35 billion and granting it unicorn status.
The newly raised capital will accelerate XPANCEO’s plans to deliver what it describes as the world’s first all-in-one smart contact lens, incorporating XR, real-time health monitoring, night vision, and zoom into a single wearable device.
Founder and Managing Partner Roman Axelrod stated, “There’s broad consensus across Big Tech that AI-powered wearable XR is the future. Yet, major players have only recently begun building glasses and headsets, so our smart lens technology puts us at least five years ahead. Becoming a unicorn is a powerful signal that we’re on the right path.”
This latest round was led by Opportunity Venture (Asia), which previously led the company’s USD $40 million seed round. The investment will help advance product development, expand XPANCEO’s R&D, product, design, and operations teams, and speed up the market launch.
Opportunity Venture (Asia) Managing Director Philip Ma shared, “We see XPANCEO as a once-in-a-generation project. They’re not just building a product, they’re rewriting the rules of personal tech. We backed them early because we saw the boldness of their vision.”
Since its last funding in 2023, XPANCEO has created 15 working prototypes, including lenses for AR vision, intraocular pressure sensing for glaucoma, biochemical health marker detection (such as glucose), real-time wireless charging, night vision, color correction, and 3D imaging.
“To build something this ambitious, we had to push the boundaries of science itself,” said Dr. Valentyn S. Volkov, Founder and Scientific Partner at XPANCEO.
XPANCEO has published 110 scientific papers and is working with institutions such as the University of Manchester, the National University of Singapore, Donostia International Physics Center, and the University of Dubai.
“With this funding, XPANCEO is poised to lead the post-smartphone era and redefine the personal computing landscape,” Ma added.
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About EXPANCEO
XPANCEO is a deep tech company specializing in the development of advanced smart contact lenses designed for extended reality (XR) applications. Founded by Dr. Valentyn S. Volkov and Roman Axelrod, the company is headquartered in Dubai and has gained global recognition for pushing the boundaries of wearable technology. XPANCEO’s mission is to create the world’s first all-in-one smart contact lens that integrates XR functionality, real-time health monitoring, night vision, and zoom capabilities into a single device.
The company’s R&D team has achieved notable breakthroughs, developing 15 working prototypes that address a variety of use cases. These include augmented reality (AR) vision, intraocular pressure sensing for glaucoma, glucose monitoring, wireless charging, color correction, night vision, and even 3D imaging. XPANCEO collaborates with top-tier research institutions such as the University of Manchester, National University of Singapore, Donostia International Physics Center, and University of Dubai, and has published over 110 scientific papers.
Supported by significant investment from Opportunity Venture (Asia) and a rapidly growing team, XPANCEO is positioned at the forefront of post-smartphone personal computing. The company’s vision is to redefine the user experience through seamless, AI-powered wearable technology.
Featured image credit: Skarred Ghost
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