XPANCEO Surpasses $1B Valuation With $250M for XR Contact Lens

• Deep tech firm XPANCEO raised $250 million in Series A funding to accelerate the development of a multi-functional, AI-powered XR contact lens.
• The $1.35 billion valuation makes XPANCEO the latest entrant to the unicorn ranks.

XPANCEO has secured $250 million in a Series A round led by Opportunity Venture (Asia), valuing the company at $1.35 billion. The funding will advance the development of its multifunctional smart contact lens, which is intended to integrate multiple XR and health-monitoring capabilities into a single wearable device.

The Dubai-based firm claims to be five years ahead of major tech players by pursuing contact lens-based computing, rather than headsets or glasses. Since its last round, XPANCEO has developed 15 working lens prototypes, including models with wireless charging, AR vision, glaucoma tracking, glucose sensing, and night vision functionality.

“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, in an official press release. “Our team possesses exceptional expertise at the forefront of physics, including on novel materials, nanoparticles development, nano-optics, and more. Our unique approach to research, which leverages AI to optimize our R&D workflows and patent analysis, allowed us to accelerate the development of an unprecedented number of prototypes in a short time and contribute to 110 scientific publications in leading journals, collaborating closely with world-renowned experts.”

Founded by Roman Axelrod and Dr. Valentyn S. Volkov, the team has doubled to 100 experts and collaborated with global research institutions. The company aims to commercialize its product in a market expected to exceed $750 billion over the next decade. XPANCEO says its contact lens aims to "replace all personal devices and end the era of screens."

🌀 Tom’s Take:

Smart contact lenses are the holy grail of wearables. With smartwatches and smartglasses already on our bodies, the next step in the post-smartphone era points to invisible interfaces, like lenses, that integrate technology directly into us, without the need for external accessories.

Source: Zawya / XPANCEO