A deep tech startup, Xpanceo, has recently announced that it has raised $40 million in funding from Opportunity Ventures in Hong Kong. The company aims to revolutionize the way we interact with technology by developing smart contact lenses with advanced computing capabilities.
Key Takeaway
Xpanceo, a deep tech startup, has raised $40 million in funding to develop smart contact lenses with advanced computing capabilities. The company aims to merge all gadgets into one, providing users with an infinite screen. Xpanceo’s prototypes cover night vision, measurement and precision vision, and augmented reality. With a focus on new materials and optoelectronics, the company plans to complete the integration of these functionalities into a single lens by 2025 or 2026.
Aiming for the Next Generation of Computing
Xpanceo’s CEO, Roman Axelrod, believes that current computing devices are limited and outdated. He envisions a future where all gadgets are merged into a single device, providing users with an infinite screen. To achieve this, Xpanceo focuses on new materials and optoelectronics, moving away from traditional silicon-based processing.
With a team of over 50 scientists and engineers, Xpanceo has been working tirelessly on developing prototypes of their smart contact lenses. The shift to optoelectronics has driven the need for smaller materials capable of emitting and reading light. The company draws inspiration from developments in 2D materials like graphene to create new materials for their contact lenses.
The Power of Neural Interfacing
One of Xpanceo’s key innovations is their AI platform, which utilizes “neural interfacing” to give wearers full control over applications without the need for cumbersome eye movements or extra controllers. This technique aims to make the user experience seamless and intuitive, enhancing the usability of the smart contact lenses.
Prototypes and Future Plans
Xpanceo’s current prototypes cover three main categories of usage: night vision and 3D, measurement and precision vision for clinical use, and augmented reality experiences. The company plans to integrate these functionalities into a single lens by 2025 or 2026.
To support its ambitious goals, Xpanceo has filed applications for 24 patents related to their smart contact lens technology. The company is dedicated to pushing the boundaries of personal tech and defining the next generation of computing.
Competition and Future Outlook
Xpanceo operates in a competitive landscape and recognizes the challenges of the deep tech industry. However, their strategic approach and long-term vision set them apart. The company’s relocation to Dubai, a vibrant and open-minded city, has provided access to a supportive community and resources.
The $40 million funding secured from Opportunity Ventures demonstrates investor confidence in Xpanceo’s ability to deliver on its product vision. The company is poised to become a major player in the world of personal tech, particularly in the post-smartphone era.
