Axelrod is the Founder of XPANCEO, a deeptech startup which is at the forefront of the next generation of computing. The startup is developing an invisible and weightless smart contact lens that feels as natural to the wearer as their own vision.

Peering into XPANCEO

Discussing XPANCEO’s smart contact lens, Axelrod said: “Our lens reinvents the whole concept of human-technology interaction and redefines the way we experience both real and digital worlds, including social media, content consumption, and gaming.”

The idea dawned on the founder when he began feeling that existing gadgets were outdated, and the rate of innovation in tech had become stagnant.

Axelrod explained: “It became clear to me that current computers were not equipped to meet the ambitious goals humanity has set for the next 100 years. Recognising that the current generation of computers was both inadequate and outdated, I became driven by a desire to create the computers of the future.

“At that time, I was renovating my apartment, and all of my belongings were gathered in one room, packed in boxes that blocked my view of the television. Because of this, I couldn't play PlayStation. At that moment, an idea came to me. How cool would it be to project the game onto the ceiling, with WhatsApp in the upper right corner and Excel on the floor? And I realised – that's it, this needs to be done.”

Researching smart contact lenses, Axelrod realised that the next step was to find the correct material to use, as silicon-era technologies were too bulky. This is when Axelrod turned to graphene: “After a brief search for scientists specialising in two-dimensional materials, I found Valentyn's [Valentyn S. Volkov, PhD, Co-Founder of XPANCEO] contact information and began persuading him to join the project and work together to build a new future. That's how XPANCEO was born.”

The lenses

XPANCEO has already developed four prototypes of smart contact lenses which are as thin as medical ones with XR, health monitoring, night vision, and zoom features. Currently, there is a separate prototype for each feature, but the final product, which is scheduled for testing in 2026, will combine these features into a single, all-in-one lens.

“First of all, we incorporated holographic technology into the first prototype of the lens, so that it displays content directly in the user's field of vision, replacing the need for AR/VR headsets or glasses for a more integrated and discrete augmented reality experience.

“The second product is a lens with biosensing capabilities that boasts continuous health monitoring capabilities and interacts directly with the eye's surface. One of the features integrated in this lens was a biosensor that measures intraocular pressure,” Axelrod described. This biosensing feature aids in early glaucoma detection, which is particularly important due to the projected rise in glaucoma cases by 2040.

He continued: “The other prototype uses nanoparticles, extremely thin particles that form a 'super material' to enhance vision. These nanoparticles improve vision in low-light conditions and enable adaptive zooming capabilities, offering better visual clarity and flexibility. Integrating electronics into another lens, it features a working one-pixel display using quasi-two-dimensional gold conductors. This ensures the components remain thin and flexible, maintaining the lens's comfort and usability.”

Security may be a cause for concern, but this is something XPANCEO has already considered: “For security, the lens includes a unique optical pattern that acts as a 3D barcode, providing enhanced protection. This pattern appears differently from various angles, making it difficult for scanners to read accurately and partially overlapping with the iris pattern for an extra layer of security.

“The lens can be wirelessly charged through the air, allowing continuous operation without frequent removal for charging, thereby enhancing user convenience,” Axelrod explained.

Seeing is believing

Behind XPANCEO is a team that is working hard to bring the product to market. Axelrod enthused: “XPANCEO has gathered a strong and diverse team of entrepreneurs, scientists, and engineers to help the company launch the first smart contact lenses on the market and stay competitive.”

The startup is already very successful, with an impressive funding round under its belt and recognition in the field. “We raised $40 million in a seed funding round, becoming one of the most-funded early-stage companies in the world.

“XPANCEO's contributions has earned us significant regional and international accolades, including recognition by Nature Index, Inc. Arabia Best in Business award, and Globee Awards for Technology.

“The XPANCEO lab was named one of the Top Five optics laboratories in the world by BCG. The publication of our research papers in Nature are also key highlights, underscoring our role as leaders in the field and contributing to our continued success and recognition.”

A new vision

With the final product scheduled for testing in 2026, XPANCEO still has a way to go before its product hits the market.

Looking ahead, Axelrod mentioned: “Next for the company is the continuation of our groundbreaking work on smart contact lenses, focusing on refining and testing the various advanced features we have integrated.

“This year, we will be focusing on the integration and refinement of advanced features within our smart contact lenses. Our primary areas of development will include a combination of augmented reality capabilities and comprehensive health monitoring functions in one device. This version will be the first step towards an integrated, all-in-one lens.”

Commenting on what’s to come, the founder said: “Innovation remains at the heart of our mission. We will continue to explore new materials, technologies, and applications that can be integrated into our lenses. This includes the integration of the prototypes, enhancing XR visuals, and incorporating new health monitoring features.”

When asked where he imagines the technology over the coming years, Axelrod commented: “As we transition from traditional silicon technologies, we envision leading the charge towards a ‘Graphene Valley’ future. Our research and development in novel materials, particularly graphene, will enable the creation of more efficient, durable, and versatile optoelectronic devices. This shift will not only elevate the performance of our smart contact lenses but also open doors to new applications across various high-tech fields.

“Our ultimate goal is to replace all conventional gadgets, embracing the philosophy that the best device is no device. We are not just creating a product but redefining the very essence of technological interaction for a global audience.”

This article originally appeared in the July/August issue of Startups Magazine. Click here to subscribe

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