Startup with Russian, Ukrainian founders raises $250 million to build night vision contact lens

Xpanceo, a Dubai-based startup founded by Russian entrepreneur Roman Axelrod and Ukrainian scientist Valentyn Volkov, has raised $250 million in Series A funding to develop smart contact lenses that offer night vision, zoom capabilities, and real-time health monitoring.

The funding round was led by Hong Kong-based Opportunity Venture (Asia) Ltd., which had earlier provided $40 million in seed capital in 2023. The latest investment values Xpanceo at $1.35 billion, the company said on Tuesday (July 8).

Founded in 2021, Xpanceo is working on contact…