XPANCEO Becomes UAE’s 12th Unicorn with $250M for World’s First AI Smart Contact Lens

XPANCEO, a Dubai-based deep tech startup, has raised $250 million in Series A funding to build the world’s first AI-powered smart contact lens. This round pushes the company’s value to $1.35 billion, officially making it the UAE’s 12th unicorn (a startup worth over $1 billion).

The smart contact lens—thinner than a human hair—aims to replace all personal gadgets by offering augmented reality (AR), health tracking, night vision, zoom features, and more in one device.

Funding to Speed Up Smart Lens Launch

The funding was led by Opportunity Venture (Asia), the same firm that led XPANCEO’s $40 million seed round. The new capital will help XPANCEO:

• Finalize development of its smart lens
• Grow its team in R&D, design, product, and operations
• Prepare for market launch

XPANCEO’s big goal: replace phones, glasses, and wearables with one smart lens.

What Makes XPANCEO’s Lens So Special?

Unlike Apple, Meta, or Google—which focus on AR glasses—XPANCEO is taking a bold step forward with smart contact lenses. These lenses pack advanced tech into a tiny form:

• Microdisplays project AR visuals right onto your eye
• Only need 1–3 µW of power—up to 300x less than AR headsets
• Lightweight, safe, and easy to wear

They offer a 30° field of view and work without any screen or glasses. Everything happens inside the lens.

Health Tracking Built Into the Lens

XPANCEO’s lenses do more than show digital info—they also track your health. The lens versions include:

• Eye pressure tracking to monitor glaucoma (50% more accurate than current tools)
• Tear fluid analysis for detecting glucose, cortisol, sex hormones, and vitamins
• Real-time health data for chronic illness tracking and early warning signs

This means users can get health updates anytime, just by wearing the lens.

Smart, Safe, and Wireless

The lenses charge and send data wirelessly through a small companion device. This device powers the lens and handles data safely:

• Uses low radiation—as safe as standard headphones
• Made from soft, ultra-thin materials for long wear
• Keeps comfort and safety at the center

Features Go Beyond Health

XPANCEO’s lenses also support:

• Night vision and color correction
• Optical zoom and contrast control
• Sharing views from others (like teammates or drones) directly into your eyes

These features can be useful in healthcare, defense, industry, and daily life.

The Team Behind XPANCEO

Dr. Valentyn S. Volkov, a Ukrainian physicist, and Roman Axelrod, a Russian entrepreneur, co-founded XPANCEO in 2019. They met at a global science event and shared a bold vision: create tech that fits inside the human body.

• Dr. Volkov focused on nanophotonics and optical science
• Axelrod brought experience in building and scaling tech companies

Together, they built XPANCEO with a strong research-first mindset. Their blend of deep science and smart business helped the company grow quickly.

In just 24 months, XPANCEO developed 15 working prototypes and contributed to 110 scientific papers with top experts worldwide.

What’s Next for XPANCEO?

XPANCEO is now focused on getting its product ready for the market. The next steps include:

• Hiring more experts
• Preparing for health and safety regulations
• Launching real-world testing

Their main markets:

• Healthcare
• Defense
• Industrial AR tools
• Everyday tech users

Their bigger goal? Replace all screens—phones, smartwatches, and glasses—with one invisible device: the eye lens.

Industry Reactions

Philip Ma, Managing Director of Opportunity Venture (Asia), said:

“They’re not just building a product; they’re rewriting the rules of personal tech. XPANCEO is ready to lead the post-smartphone era.”

Roman Axelrod, XPANCEO’s Co-Founder, added:

“This lens can do what no other wearable can. It’s five years ahead of current tech.”

Dr. Volkov noted:

“We had to push the limits of science. Our AI tools helped us speed up development and publish over 100 scientific papers.”