Xpanceo, a Dubai, UAE-based deep tech company, raised $40M in Seed funding.
The round was led by Opportunity Ventures (Asia).
The company intends to use the funds to launch the next prototype, in which they will gather several features in one device.
Founded by Valentyn S. Volkov, a Ukrainian scientist who boasts over 7000 citations in some of the most respected international media, and Roman Axelrod, an experienced entrepreneur with three previous exits, Xpanceo plans to create ultra thin, smart contact lenses that will replace AR glasses and allow humans to use features such as night vision, zoom, health monitoring, and content-watching. The team has created and tested in the laboratory 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 new device 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).
Xpanceo combines over 20 patented technologies in Advanced Optic and Photonics, Novel material, AI, and Neural Interfacing to create ultra-compact and highly efficient optoelectronic devices in smart contact lenses, paving the way for a gradual transition from traditional silicon technologies to the “graphene valley’’ future.
The company also collaborates with scientists from universities all around the globe, such as the Donostia International Physics Center (Spain), Chalmers University of Technology (Sweden), National University of Singapore (Singapore), University of Oviedo (Spain),University of Manchester (UK), Aix-Marseille University (France) and the University of Zaragoza, among others, to create a prototype by 2026.
FinSMEs
16/10/2023