XPANCEO Raises $250M, Valuation at $1.35B

XPANCEO, a deep tech company creating AI smart contact lenses, has secured $250 million in Series A funding, valuing the company at $1.35 billion and making it a unicorn. The funding round was led by Opportunity Venture (Asia), which previously supported XPANCEO’s $40 million seed round.

Smart Contact Lens Technology

The funding aims to help XPANCEO launch its all-in-one smart contact lens. This lens will combine extended reality (XR), real-time health monitoring, night vision, and zoom into an invisible interface intended to replace personal devices. According to Roman Axelrod, Founder and Managing Partner at XPANCEO, the company has built 15 working prototypes in two years. Axelrod believes this lens technology puts them ahead in the market and that becoming a unicorn validates their vision of merging every device into the eyes.

Breakthroughs and Innovations

Since 2023, XPANCEO has achieved breakthroughs in areas including lenses for AR and glaucoma monitoring, biochemical sensors, night vision optics, and wireless charging. These advancements have led to 24 international awards and over 110 scientific publications, supported by an AI-enhanced R&D workflow. Dr. Valentyn S. Volkov, Co-founder and Scientific Partner, stated that their team combines physics expertise with materials science to push the boundaries of science and wearables.

Company Growth

Founded by Axelrod and Volkov, XPANCEO has doubled its team and lab capacity, and now includes over 100 scientists, engineers, and business leaders. The company is working with institutions such as the University of Manchester, the National University of Singapore, and the University of Dubai. XPANCEO aims to lead a market projected to exceed $750 billion in the coming decade. Philip Ma, Managing Director at Opportunity Venture (Asia), said that XPANCEO is pioneering a new era of personal computing and is positioned to lead the post-smartphone revolution.