Dubai Startup Xpanceo Raises $250 Million for Smart Night-Vision Lenses

Dubai-based startup Xpanceo, founded by Russian entrepreneur Roman Axelrod and Ukrainian scientist Valentyn Volkov, has raised $250 million in Series A funding led by Hong Kong-based Opportunity Venture (Asia) Ltd., valuing the company at $1.35 billion. The company is developing smart contact lenses that offer night vision, zoom capabilities, augmented reality, and real-time health monitoring through extended reality (XR) technology, aiming to replace smartphones and smartwatches. Multiple prototypes have been developed, with clinical trials targeted by the end of 2026 and a commercial launch planned for 2027–2028. Xpanceo's lenses integrate microprojectors, AI chips, biosensors, and wireless connectivity to create an “Invisible Computer” interface controlled via gaze and voice commands. The startup is positioning itself as a competitor to tech giants like Meta, which offers smart glasses in collaboration with Ray-Ban and Oakley, and Apple, which is expected to enter the smart glasses market by 2026. This significant funding round highlights growing investor confidence in frontier wearable technologies in the Middle East and beyond.