Dubai-based smart contact lens startup XPANCEO has closed a $250m Series A funding round at a $1.35 billion valuation, officially earning unicorn status as it accelerates efforts to launch the world’s first all-in-one AI-powered extended reality (XR) smart lens.
The funding round was led by Opportunity Venture (Asia), which also spearheaded XPANCEO’s $40m seed round.
The new capital will support final product development, global team expansion, and fast-track the company’s go-to-market strategy — with a vision to replace smartphones, smartwatches, and other devices with a single seamless wearable: the eye-based smart lens.
XPANCEO focuses on future after $250m funding boost in Dubai
Roman Axelrod, founder and Managing Partner at XPANCEO, said: “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. 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.”
Unlike tech giants focused on bulky headsets or smart glasses, XPANCEO is developing a next-gen wearable that integrates:
- AI-powered XR for immersive experiences
- Real-time health monitoring, including intraocular pressure and glucose levels via tear fluid
- Zoom, night vision, and colour correction capabilities
- Wireless charging and data reading in real time
- 3D imaging through nano-optic lenses
Since 2023, the new unicorn has developed 15 working prototypes and earned 24 international awards in optics, deep tech, and wearable innovation. Its team has contributed to 110 scientific publications and collaborates with top global institutions including University of Manchester, National University of Singapore, Donostia International Physics Centre and the University of Dubai.
Dr. Valentyn S. Volkov, Founder and Scientific Partner at XPANCEO, said: “To build something this ambitious, we had to push the boundaries of science itself. Our team possesses exceptional expertise at the forefront of physics, including on novel materials, nanoparticles development, nano-optics, and more.
XPANCEO has scaled rapidly, doubling its team from 50 to 100 and expanding its state-of-the-art laboratories to support breakthrough research in nano-optics, novel materials, and wearable computing.
With the personal computing market projected to exceed $750 billion over the next decade, investors see the firm as uniquely positioned to lead the post-smartphone era.
Philip Ma, Managing Director of Opportunity Venture (Asia), said: “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”.
Commercial launch timelines have not been disclosed, but with unicorn funding secured, the future of personal computing may soon be right before our eyes.
