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Xpanceo

Extended Reality
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Pre-Seed
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Hardware manufacturers
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Dubai-based Xpanceo is developing invisible and weightless smart contact lenses, backed by its team of 50 scientists, engineers and executive leaders. The company uses optoelectronics, as opposed to traditional silicon-based processing. In February 2024, the company announced the world's first holographic lens testing system, aimed at streamlining the development process of its smart contact lenses.

Another key development by the startup is its flexible and transparent electronics based on highly conductive quasi-2D metallic films with a thickness of only a few nanometers. The company likened the development of 2D materials like graphene to what it is pursuing with new materials for contact lenses.

Additionally, users can engage with the smart contact lens via an AI platform the company has developed. This uses a “neural interfacing” technique to provide wearers of its lenses full control over applications without them needing to use “awkward” eye movements or extra controllers.

Its prototypes include three categories of usage. These include lenses for night vision and 3D; lenses that offer measurement and precision vision (e.g. clinical usage); and holographic lenses for AR experiences. The company plans to integrate all of these functionalities into one pair of lenses, by 2025 or 2026.

As of October 2023, the company had 24 patent applications in progress related to advanced optics and photonics, novel materials, AI, and neural interfacing to create ultra-compact and highly efficient optoelectronic devices in smart contact lenses.

Funding and financials

In October 2023 , Xpanceo raised USD 40 million in seed funding from Opportunity Ventures. Xpanceo intends to use the funding to merge the functionalities of its various lens prototypes into a single lens. The company anticipates completing this integration by 2025 or 2026.


Extended Reality

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Key stats
Featured companies
238
Total funding (USD)
13.6 Bn
Total addressable market (USD)
100.4 Bn
Key competitors
 
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Product Overview
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Company profile
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EDGE Insights

XR and MEP (Q4 2023): XR GenAI adoption accelerates alongside funding rebound

Recent Updates

Product updates
Feb 21, 2024
XPANCEO announces proof of concept for AR holographic lens testing system
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Funding
Oct 16, 2023
Smart contact lens manufacturer Xpanceo raises USD 40 million in seed funding
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Company Brief


HQ location:
Dubai, Internet City, Emmay Tower, Floor G, Showroom 1&2 Dubai ARE
Founded year:
2021
Employees:
11-50
Total Funding:
USD 40.0 million
Last Funding
USD 40.0 million, Oct 2023

Funding


Investors


No investor data is available

Funding data are powered by Crunchbase
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