Developer of World's First Smart Contact Lenses Xpanceo Raises $250 Million at a $1.35 Billion Valuation

Co-founded by Roman Axelrod and Valentyn Volkov, Xpanceo has raised $250 million at a $1.35 billion valuation led by Opportunity Venture (Asia), which previously spearheaded XPANCEO’s $40 million seed round, officially becoming a unicorn. The funding will help finalize development of the world’s first smart contact lens, grow XPANCEO’s team across key functions, and accelerate go-to-market efforts, aiming to replace all personal devices with one seamless wearable.

Since 2023, XPANCEO has developed smart lens prototypes with capabilities including AR vision, IOP sensing for glaucoma, glucose monitoring from tear fluid, wireless charging, and real-time data reading. Additional breakthroughs include lenses for night vision, color correction, and 3D imaging, earning 24 international awards across deep tech, optics, and wearables.

XPANCEO, founded by Roman Axelrod and Dr. Valentyn S. Volkov, has doubled its team and lab capacity, growing to 100 experts and expanding its R&D capabilities. Collaborating with top institutions worldwide, the company is advancing in material science and optics as it targets a $750B market opportunity and accelerates commercialization.