• UAE-based deeptech startup XPANCEO has raised $250 million in Series A funding at a $1.35 billion valuation. The round was led by Opportunity Venture (Asia), which also led its earlier $40 million seed round.
• Founded by physicist Valentyn S. Volkov and Roman Axelrod, XPANCEO is developing a multifunctional smart contact lens, integrating AR, health monitoring, night vision, and optical zoom into a lens thinner than a human hair. The device aims to replace all personal gadgets with a single, seamless wearable.
• The funds will support commercialisation, expand the global R&D and product teams, and accelerate regulatory and pilot tests. 

Press release:

XPANCEO, a Dubai‑based deep‑tech pioneer developing the world’s first multifunctional smart contact lens, has raised $250 million in a Series A funding round, valuing the company at $1.35 billion. With this milestone — marking XPANCEO as the UAE’s 12th unicorn — the company aims to fast‑track the commercialisation of its groundbreaking lens that integrates augmented reality, continuous health monitoring, night‑vision, and more, all within a device thinner than a human hair.

The round was led by Opportunity Venture (Asia), which previously led XPANCEO’s $40 million seed round. The funding will support the final development phase of the smart contact lens, expansion of the R&D, design, product and operations teams, and preparation for market launch — ultimately consolidating multiple wearable technologies into a single, invisible device.

XPANCEO’s lens embeds nanophotonics micro‑displays directly onto the retina, offering AR experiences with a 30° field of view using ultra‑low power (1–3 µW). Beyond AR, the lenses enable real‑time health monitoring, including intraocular pressure tracking for glaucoma and biochemical analysis of tear fluid for markers like glucose, cortisol, hormones, and key vitamins — significantly enhancing diagnostic capabilities. Additional innovations include wireless charging, night vision, optical zoom, and colour‑blindness correction, with applications across healthcare, industrial, defence, and consumer sectors.

Co‑founded in 2019 by physicist Dr. Valentyn S. Volkov and serial entrepreneur Roman Axelrod, XPANCEO merges deep scientific research in nano‑optics and biosensing with commercial viability. The company has already produced 15 working prototypes and contributed to 110 science publications.

Looking ahead, XPANCEO will deploy the funding to scale its talent base, advance regulatory approvals, and pilot test use cases in healthcare, defence, industrial AR, and consumer wearables — setting the stage to replace phones, glasses, and smartwatches with a unified wearable interface.

Roman Axelrod, XPANCEO’s Co‑Founder and Managing Partner:

“There’s broad consensus across Big Tech that AI‑powered wearable XR is the future... With this funding, XPANCEO is poised to lead the post‑smartphone era.”

Dr. Valentyn S. Volkov, Scientific Partner:

“Our team has pushed the boundaries of science... AI‑driven R&D enabled 15 prototypes and 110 scientific publications in months.”

Philip Ma, Managing Director at Opportunity Venture (Asia):

“They’re not just building a product; they’re rewriting the rules of personal tech.”