UAE-based XPANCEO has secured $250 million in Series A funding led by Opportunity Venture (Asia), boosting its valuation to $1.35 billion and officially achieving unicorn status.
The company is developing the world’s first multifunctional smart contact lens, integrating extended reality (XR), night vision, optical zoom, and real-time health monitoring, aiming to replace all personal devices with a single AI-powered wearable interface.
XPANCEO plans to release a clinical-trial-ready prototype by the end of 2026, having already developed 15 functional prototypes in less than two years. The company has expanded rapidly, growing its team to over 100 experts in optics, AI, and nano-materials.
The newly secured funds will accelerate R&D, expand operations, and fast-track commercialization, following a previous $40 million seed investment by the same lead investor, Opportunity Venture, in 2023.
Founder and Managing Partner Roman Axelrod stated, “Becoming a unicorn at this stage proves we’re on the right track.” Scientific Partner Dr. Valentyn S. Volkov added that XPANCEO’s breakthroughs in AR lenses, glucose detection, and nanoparticle optics have earned the company over 24 international awards.
The company collaborates with top academic 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 wearable computing innovation.
