Dubai, UAE — XPANCEO, a leading deep tech company developing the next generation of computing via smart contact lenses, today announced the successful closing of a $250 million Series A funding round at a $1.35 billion valuation, officially joining the ranks of unicorns. The round will accelerate the company’s mission to launch the world’s first all-in-one smart contact lens, integrating extended reality (XR), real-time health monitoring, night vision, and zoom into the ultimate interface for the next generation of computing: an AI-powered XR.
The round was led by Opportunity Venture (Asia), who previously spearheaded XPANCEO’s $40 million seed round. The new capital will be used to finalize the development of the world’s first smart contact lens, expand XPANCEO’s world-class team across R&D, product, design, and operations, and accelerate the company’s path to market, with the ultimate goal of replacing all personal gadgets with a single, seamless wearable.
“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,” said Roman Axelrod, founder and Managing Partner at XPANCEO. “Becoming a unicorn is a powerful signal that we’re on the right path. In just 24 months, we’ve developed 15 working prototypes, each unlocking a new layer of possibility. Our vision remains the same: to merge all your devices into a single, invisible interface – your eyes.”
Since its last round in 2023, XPANCEO has achieved major technological breakthroughs, including the development a lens for AR vision, a smart lens with intraocular pressure (IOP) sensing for glaucoma monitoring, a biochemical lens capable of measuring health parameters such as glucose directly from tear fluid, and a lens capable of real-time wireless charging and data reading. Other prototypes feature nanoparticle-enhanced lenses for night vision and color correction, as well as lenses designed for 3D imaging. These innovations have earned XPANCEO and its founders 24 international awards in deep tech, optics, and wearable technology.
“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. “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 serial entrepreneur Roman Axelrod and physicist Dr. Valentyn S. Volkov, XPANCEO has rapidly scaled its operations, doubling both its team and laboratory capacity. The company has grown from 50 to 100 world-class scientists, engineers, and business leaders, while its state-of-the-art lab has expanded significantly to support the increasing scope of its research. XPANCEO collaborates with top global institutions – including the University of Manchester, the National University of Singapore, Donostia International Physics Center, and the University of Dubai – to remain at the forefront of material science and optics. With a market opportunity projected to surpass $750 billion over the next decade, the company is accelerating its push toward commercialization.
“We see XPANCEO as a once-in-a-generation project,” said Philip Ma, Managing Director of Opportunity Venture (Asia). “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. Today, they’ve proven they can execute. With this funding, XPANCEO is poised to lead the post-smartphone era and redefine the personal computing landscape.”