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Tech Startup Xpanceo Raises $40 Million To Launch Smart Contact Lenses

Dubai firm creates new AR contact lenses which it says, ‘Will effectively merge all your gadgets into one’

Deep tech startup Xpanceo has raised $40 million in a seed round to launch its contact lenses with AR vision features. Led by Hong Kong-based Opportunity Ventures (Asia), the startup will invest the newly secured funds to launch its next prototype with which it aims to integrate various features into one device. 

The tech startup has managed to create and test three different prototypes in the lab. These prototypes can provide users with night vision and zoom, monitor their health in real-time and even see video and pictures in AR. Xpanceo’s device is crafted from optical materials, including low-dimensional and van der Waals materials that have high refractive indices and anisotropy while maintaining their optical qualities. 

Co-founder and scientific partner, Valentyn S. Volkov PhD says, “We are targeting, at least, the $790 billion Augmented Reality and Contact Lenses market, and creating the first device in the market that will allow us to use all apps and software in a single contact lens interface. Our device will effectively merge all your gadgets into one.” 

Unlocking the full power of AR technology 

Xpanceo’s diverse team comprises more than 50 scientists, engineers and executives from universities, research institutions and tech companies. The team combines expertise in science, innovative technologies and adept product management as well as development for challenging markets. The start-up’s goal with this new device is to unlock the full power of AR technology, making it user-friendly and accessible for everyone.

The startup says that traditional optoelectronic materials and methods couldn’t make this project work because the resulting parts were too bulky to fit into a practical and user-friendly contact lens. Xpanceo utilises more than 20 patented technologies in advanced optics, photonics, new materials, AI and neural interfacing. 

This creates small and efficient optoelectronic devices in smart contact lenses, setting the path for a shift from old silicon tech to the future known as the ‘graphene valley’. The start-up claims that, “The high refractive indices, coupled with the giant anisotropy of the materials used in waveguide-based devices, are key factors that enable a more efficient light bending and guiding process compared to modern optical devices.” 

To engage with these technologies,  Xpanceo uses AI to create models that can make predictions about the optical features of similar materials. Neural interfacing allows users to have complete control over the applications without needing uncomfortable eye movements, blinks or additional controllers.

Written By

Isa Muhammad is a writer and video game journalist covering many aspects of entertainment media including the film industry. He's steadily writing his way to the sharp end of journalism and enjoys staying informed. If he's not reading, playing video games or catching up on his favourite TV series, then he's probably writing about them.

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