- UAE-based Xpanceo raised USD 250M in Series A funding to develop AI-powered smart contact lenses with XR capabilities.
- The deeptech startup aims to replace gadgets with wearable lenses offering night vision, zoom, real-time health checks, and more.
- Backed by global investors, Xpanceo is targeting clinical trials by 2026 despite major tech miniaturization challenges ahead.
Xpanceo
What happened? UAE-based deeptech startup, Xpanceo, raises USD 250 million in a series A funding round. The round was led by Hong Kong-based Opportunity Venture (Asia) Ltd. Additionally, this latest round brings Xpanceo’s valuation to USD 1.35 billion making it eligible for unicorn status.
Who are they? The startup was founded in 2021 by Russian entrepreneur Roman Axelrod and Ukrainian scientist Valentyn Volkov. It is a deep tech company focusing on developing invisible and weightless smart contact lenses as an interface for AI-powered XR computing.
Smart Contact Lenses
How does it work? The startup’s contact lens aims to merge all gadgets into one in order to transform how users experience social media, content consumption, and gaming. This will be coupled with real time health, minority, night vision, zoom, and privacy and security measures.
However, it faces many challenges in its development process. This includes shrinking the technology and power source into something that can fit a human’s eye.
What is next? With the new funding, it aims to develop contact lenses that integrate extended reality. This is technology that seeks to replace the function of personal gadgets with a wearable lens. Furthermore, it aims to produce a model ready for clinical trials by the end of 2026.
It aims for these contacts to provide night vision, zoom capabilities and real time health checks.
Bottom line: Xpanceo’s latest funding round underscores sustained interest in extended reality and wearable tech. The coming years will be key as the company works toward clinical trials and navigates the challenges of bringing smart contact lenses to market.
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