XPANCEO
Overview
XPANCEO is an innovative deep-tech company based in Dubai, UAE. Founded in 2021 by Roman Axelrod and Dr. Valentyn S. Volkov, XPANCEO specializes in developing smart contact lenses that integrate extended reality (XR) and AI-powered technology. Their groundbreaking lens technology aims to merge digital and physical worlds by providing an invisible interface for computing. XPANCEO has significantly advanced in the field, raising $250 million in Series A financing, reaching a valuation of $1.35 billion in 2025.
Recent Developments
- July 2025: XPANCEO secured a $250 million Series A funding round, led by Opportunity Venture (Asia), increasing its valuation to $1.35 billion. These funds are earmarked for developing an all-in-one smart contact lens set for clinical trials by 2026 that incorporate AR, health monitoring, night vision, and optical zoom.
- At the Mobile World Congress 2025, XPANCEO introduced prototypes for smart contact lenses boasting features like wireless charging, AR capabilities, intraocular pressure sensors for glaucoma monitoring, and biochemical sensors for tear fluid analysis.
- In 2024, XPANCEO increased its presence at global conferences like GITEX Global and AWE Asia, showcasing prototypes of AR contact lenses with reduced energy consumption and enhanced XR capabilities.
- The company also reported collaborations with institutions like the University of Manchester and Singapore's National University, focusing on material sciences relevant to their products.
- February 2024: Executives discussed the company's vision for smart contact lenses as not just computing devices, but integral to accessibility enhancements, such as super vision for the visually impaired, and introduced their approach at the South Summit panel.
- January 2025: Nobel laureate Konstantin S. Novoselov joined XPANCEO in researching advanced graphene-like materials for applications in AI and machine learning.
Company Information
| Attribute | Information |
|---|---|
| Founding Date | 2021 |
| Headquarters | Dubai, UAE |
| Founders | Roman Axelrod, Dr. Valentyn S. Volkov |
| Revenue | - |
| Profits | - |
| Key Investors | Opportunity Venture (Asia) |
| Industry | Deep Tech, Wearable Technology |
| Number of Employees | 100+ |
Early History
Founded in 2021 by Roman Axelrod and Dr. Valentyn S. Volkov, XPANCEO emerged from collaborative discussions around the synergistic potentials of optics, AI, and consumer electronics. Axelrod, an experienced entrepreneur, detailed the market need for a transition from smartphone reliance to seamless XR interactions. With a robust scientific underpinning from Volkov’s expertise in nanophotonics, XPANCEO pursued a project to create the world’s first functional smart contact lens. They quickly established a research-first ethos, emphasizing the merging of biological interfacing with technological utility.
Company Profile and Achievements
XPANCEO's mission is to redefine personal computing through smart contact lenses. These lenses aim to integrate various technologies into a single, user-friendly device:
- Health Monitoring: The lenses feature biochemical sensors capable of analyzing tear fluid, providing continuous metrics on glucose and hormone levels, and enabling non-invasive monitoring.
- Technology Milestones: In just two years, XPANCEO developed 15 advanced prototypes, securing 32 patents across 20 jurisdictions, and key partnerships with international scientific institutions.
- Awards and Recognition: XPANCEO has been acknowledged with numerous industry awards for its innovations in optics and wearable technology.
- Strategic Collaborations: Collaborations extend to research institutions focusing on nano-optics and 2D materials essential to the lenses’ performance and sustainability.
Current Operations and Market Position
Currently a key player in the emerging XR wearable technology market, XPANCEO is leveraging advanced materials and AI to enhance real-time data collection and user interaction. XPANCEO's smart contact lenses aim to establish a new category beyond XR goggles and glasses, offering unique advantages in stealth, comfort, and continuous health advising. The company's market strategy involves positioning its product as a game-changing innovation capable of replacing multiple consumer electronics in one go.
Conclusion
XPANCEO's pioneering technology in smart contact lenses offers potential to revolutionize the XR industry by making invasive, impractical wearables obsolete. With strong financial backing and an innovative team, the startup is on a promising path to debut its fully functional smart lens by 2026. This ambitious effort is poised to transform personal computing into a more integrated, efficient experience.