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Deep tech startup XPANCEO raises $40M to develop smart contact lenses

October 16, 2023
Deep tech startup XPANCEO raises $40M to develop smart contact lenses

After several attempts by other companies to create smart lenses, the XPANCEO team has created and successfully tested three separate prototypes to enable night vision and zoom, real-time health monitoring, and the ability to see video and graphic content in AR.

The device, which is the world's first ultra-thin lens, feels as natural to the wearer as their own vision. It is made of advanced optical materials (including low-dimensional and van der Waals materials), which exhibit record-breaking refractive indices and anisotropy and maintain excellent optical properties. The device is aimed to unleash the full potential of AR technology by making it accessible and easy to use.

The funds will be invested to launch the next prototype, in which the company will gather several features in one device.

Funding 💰

Round $40M
Seed
Lead investor(s) Opportunity Venture

Quotes 💬

“
We led this round of funding as a testament to the fact that XPANCEO has not merely an ambition but also a capacity to deliver on its product vision. We believe that now XPANCEO has all the resources needed to drive their R&D and product design forward, and do it even faster. Opportunity Venture (Asia) sees the potential in XPANCEO to define the next generation of computing and to become a major player in the world of personal tech in the post smartphone era.
— Philip Ma, Opportunity Venture's (Asia) Managing Director
“
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. XPANCEO was recognized as one of the top five optic laboratories in the world by international consulting firm BCG, and has practical experience in developing and studying unique materials (like graphene and other 2D materials), opening a way for the realization of next-generation ultra-compact optoelectronic devices.
— Valentyn S. Volkov, Ph.D., Co-founder and Scientific Partner of XPANCEO

About 🏢

XPANCEO is a deep tech company developing the next generation of computing via an invisible and weightless smart contact lens that is as natural to the wearer as their own vision. The lens reinvents the whole concept of human-technology interaction and redefines the way we experience both real and digital worlds, including social media, content consumption, and gaming. Merging different gadgets into one, the lens transforms the everyday into an infinite eXtended Reality (XR) experience, replete with advanced real-time health monitoring and comprehensive practical recommendations, superpowers like night vision and zoom, and cutting-edge privacy and security measures. One of the applications of the smart lens will be related to the wearer's health, with the ability to track markers like stress, blood sugar, body temperature and dry eyes. more
source

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