XPANCEO raises $250M Series A to advance smart contact lens tech, reaches $1.35B valuation 

Deeptech company XPANCEO has secured $250 million in Series A funding, bringing its valuation to $1.35 billion. The round was led by Opportunity Venture (Asia), which also participated in XPANCEO’s earlier $40 million seed round.

Founded in 2019 by physicist Dr. Valentyn S. Volkov and entrepreneur Roman Axelrod, XPANCEO is developing what it describes as the world’s first all-in-one smart contact lens. The wearable integrates multiple advanced technologies—including augmented reality (AR), health monitoring, night vision, and optical zoom—into a lens thinner than a strand of human hair. The aim is to eventually consolidate the functions of smartphones, smartwatches, and AR glasses into a single device.

The fresh capital will be used to accelerate commercialisation efforts, grow global product and engineering teams, and support regulatory approvals and pilot testing across various sectors.

XPANCEO’s proprietary lens incorporates nanophotonics and biosensing technologies to deliver immersive visual overlays and real-time biometric tracking. Key capabilities in development include intraocular pressure monitoring for glaucoma, real-time diagnostics via tear analysis, and vision-enhancement features like color blindness correction and zoom. The device also features ultra-low power consumption and wireless charging.

With 15 prototypes completed and over 100 scientific publications linked to its R&D efforts, XPANCEO plans to continue expanding its intellectual property base while refining its product roadmap for healthcare, defense, industrial AR, and consumer applications.

“This round marks a significant step forward in our mission to redefine how humans interact with technology,” said XPANCEO co-founder and CEO Roman Axelrod. “Our work sits at the intersection of AI, advanced optics, and wearable design. We’re building what we believe will be the next generation of personal computing.”

Co-founder Dr. Volkov added that the company’s development approach, powered by artificial intelligence and scientific research, allows it to iterate and innovate at a rapid pace.

Philip Ma, Managing Director at Opportunity Venture (Asia), commented on the round: “XPANCEO is not just creating a product—they’re shaping a category. Their vision aligns with the future of computing, and we’re proud to support them on this journey.”

XPANCEO’s valuation places it among the UAE’s growing list of unicorn startups, reflecting the region’s increasing stake in global frontier technology development.