XPANCEO Wants to Pioneer the Invisible Revolution

“Our mission is bold,” says Axelrod, a serial entrepreneur and the founder of XPANCEO, a deeptech startup that wants to revolutionize technology with its smart contact lens. Axelrod is as ambitious as he is accomplished. “We are redefining the foundations of human-technology interaction, and by doing so, we are propelling humanity into a future where the power of computing is woven into the fabric of our bodies,” he tells Inc. Arabia.

His larger-than-life vision is mirrored in XPANCEO’s headquarters at Dubai Internet City. According to The Nature Index, the laboratory is one of the top three research institutions in the UAE and the number one corporate research institution in Western Asia.

“It all started during a pivotal moment in my life. I had just turned 30 and had exited my most recent business. This led me, unexpectedly, to an early midlife crisis. I craved something bigger,” says Axelrod. He tells us that he felt limited rather than empowered by gadgets that were primitive and bulky.

Roman Axelrod, serial entrepreneur and founder of XPANCEO.

Axelrod dreamed of creating the next generation of computing, something he believed would help humanity evolve into an interplanetary species. He envisioned a future in which technology was naturally embedded within us, enabling us with superpowers to live longer, healthier, and happier lives.

Bridging the gap between science fiction and reality is not easy, though, and Axelrod hit a wall visualizing how this device should look. Unexpectedly, a serendipitous moment came while scrolling on Pinterest. He stumbled upon an image of a woman--a cosmonaut with strikingly vivid eyes--encapsulated within the confines of her helmet. Inside the helmet, a celestial ballet unfolded, and miniature planets gracefully orbited around her head. For Axelrod, this perfectly represented his vision and how it should come to life--through the elegance of a contact lens.

“That's when it hit me,” he says. “Wouldn't it be amazing if I could project the game onto the ceiling, with WhatsApp in the corner and Excel on the floor?” he says.

His hunt for a partner who could bring scientific expertise to his ambitious project led him to Dr. Valentyn Volkov, one of the top two percent of scientists globally and an expert in the field of nanophotonics and advanced materials. As the co-founder and scientific partner, Volkov leads R&D and has put together a team of top scientists and researchers who are developing a product that will undergo clinical trials starting in 2026.

“The opportunity to work on something that could genuinely change the world--that's what ultimately sealed my commitment to XPANCEO, and I feel very proud of what we have accomplished so far,” says Volkov.

Leading the Invisible Revolution

Combining XR, AI, and nanophotonics, XPANCEO’s smart contact lens is being designed to disrupt several industries, including sports and healthcare, fintech and banking, the automotive industry, and eventually, space.

Axelrod and Volkov’s vision of a gadget-free future is no easy feat to accomplish, though. Axelrod believes that the company is at the forefront of an invisible revolution that will change the way we interact with gadgets.

“The Invisible Revolution is a disruptive, seismic shift in how technology integrates with human life. We are on the brink of transforming technology from something visible and external into an imperceptible seamless enhancement of our very being,” says Axelrod.

At the laboratory, Volkov’s team researches the properties of graphene (and other 2D materials) discovered by Nobel laureates Konstantin S. Novoselov and Andre Geim at the beginning of the 2000s, and how they can be used to develop a new category of wearables. “These are innovative compounds that belong to the family of graphene-like materials. These enable new dimensions of light-matter interaction, and hold transformative potential for integrated photonics, healthcare, and augmented reality,” explains Volkov.

 Valentyn Volkov, founder of XPANCEO.

After a few hours of a detailed discussion on the fusion of magic and science happening at the laboratory, it becomes clear that light propagation and its applications are at the heart of XPANCEO’s work. “Precisely manipulating light direction through wavelength adjustments, we can achieve extraordinarily sharp and vivid AR overlays with minimal distortion,” explains Volkov.

So what does this mean for mankind?

“We are redefining the way humans and technology interact. While today, people experience the digital world through bulky, external devices, XPANCEO’s lens will allow people to consume content, engage on social media, and even game, all with unmatched ease,” says Axelrod.

From redefining diagnostic capabilities and impacting the global healthcare system, the smart lens will function as an advanced wearable, providing early detection of diseases including cancer or COVID-19. It will also test blood vitals, body heat, and eye pressure without requiring a visit to a medical clinic. Those with impaired color perception will be able to experience a full-color spectrum and even have better night vision. All this will be accomplished through one ultra-thin lens that can be worn just like a regular contact lens, Volkov tells us.

“We are creating what we call an infinite ‘eXtended Reality’ experience, merging all of your gadgets into our powerful contact lens, which is equipped with myriad features that bolster every aspect of a person’s life. By offering a hands-free experience, we’re reinventing ‘wearables’ in the conventional sense of the word,” says Axelrod.

The World’s Most Ambitious Deeptech Company

Having secured the largest seed funding round in the Arab region at $40 million, Axelrod and Volkov’s bold vision has led to significant interest from investors as they prepare for a second round of funding. Having seven functioning prototypes and 11 pending patent applications (including 30 potentially patentable objects) in the fields of optics and nanophotonics under their belt helps.

Thanks to Volkov’s outstanding scientific career and reputation, top talents from leading global universities have joined the company’s research and development team. In this sphere, XPANCEO has established partnerships with the Donostia International Physics Center in Spain, Chalmers University of Technology in Sweden, and the National University of Singapore, among others.

According to Axelrod and Volkov, XPANCEO’s smart contact lens will replace visible wearables entirely.

“We do this because we know what we are doing is unique and we are venturing into uncharted territory. What we are doing--if done right--will transcend many barriers that have held humanity back for a long time,” says Axelrod.