• Skip to primary navigation
  • Skip to main content

VRSUN

Hot Virtual Reality News

HOTTEST VR NEWS OF THE DAY

  • Home

ar industry

Snap Forms ‘Specs Inc’ to Insulate AR Business Ahead of AR Glasses Launch

January 29, 2026 From roadtovr

Snapchat maker Snap announced it’s formed a new business dedicated to its upcoming AR glasses.

The News

Called Specs Inc, the wholly-owned subsidiary within Snap is said to allow for “greater operational focus and alignment” ahead of the public launch of its latest AR glasses coming later this year.

In addition to operating its AR efforts directly under the new brand, Snap says Specs Inc will also allow for “new partnerships and capital flexibility,” including the potential for minority investment.

Snap Spectacles Gen 5 (2024) | Image courtesy Snap Inc

In September, Snap CEO Evan Spiegel noted in an open letter that the company is heading into a make-or-break “crucible moment” in 2026, characterizing Specs as an integral part of the company’s future.

“This moment isn’t just about survival. It’s about proving that a different way of building technology, one that deepens friendships and inspires creativity, can succeed in a world that often rewards the opposite,” Spiegel said.

While the company hasn’t shown of its next-gen Specs yet, the company touts the device’s built-in AI, something that “uses its understanding of you and your world to help get things done on your behalf while protecting and respecting your privacy.”

Snap further notes that it’s “building a computer that we hope you’ll use less, because it does more for you.”

My Take

Snap (or rather, Specs) is set to release its sixth-gen Spectacles this year, although this is the first pair of AR glasses the company is ostensibly hoping to pitch directly to the public, and not just developers and educational institutions.

Info is still thin surrounding Spec Inc’s launch plans for the devices, although forming a new legal entity for its AR business right beforehand could mean a few things.

For now, it doesn’t appear Snap is “spinning out” Spectacles proper; Snap hasn’t announced new leadership, leading me to believe that it’s more of a play to not only attract more targeted investment in the AR efforts, but also insulate the company from potential failure.

Snap Spectacles Gen 5 (2024) | Image courtesy Snap Inc, Niantic

It’s all fairly opaque at this point, although the move does allow investors to more clearly choose between supporting the company’s traditional ad business, or investing it the future of AR.

However you slice it though, AR hardware development is capital intensive, and Snap’s pockets aren’t as deep as its direct competitors, including Meta, Apple, Google, and Microsoft.

While Snap confirmed it spent $3 billion over the course of 11 years creating its AR platform, that’s notably less than what Meta typically spends in a single quarter on its XR Reality Labs division.

It’s also risky. The very real flipside is that Specs Inc could go bankrupt. Maybe it’s too early. Maybe it underdelivers in comparison to competitors. Maybe it’s too expensive out of the gate for consumers, and really only appeals to enterprise. Maybe it isn’t too expensive, but the world heads into its sixth once-in-a-generation economic meltdown.

Simply put, there are a lot of ‘maybes’ right now. And given the new legal separation, Snap still has the option to survive relatively unscathed if it goes belly up, and lives to find another existential pivot.

Filed Under: ar industry, AR Investment, News, XR Industry News

Distance Technologies Reveals Military AR Goggles for Battlefield Awareness

January 21, 2026 From roadtovr

Distance Technologies has unveiled the Field Operator HUD (FOH), an AI-enhanced AR system designed for military vehicles ranging from light utility platforms to main battle tanks.

FOH is said to combine Distance’s own optics with AI-assisted data processing, which the company says improves situational awareness, survivability, and visual workload management in land combat environments.

Having undergone field trials with UK and Finnish forces, FOH integrates command-and-control functions with its AR optics by fusing multiple sensor inputs—ostensibly similar to Anduril’s EagleEye project, revealed in October 2025.

Image courtesy Distance Technologies

Distance says FOH is designed to present only the most critical information by using AI-driven sensor fusion, automated detection, and by integrating everything from thermal and night vision to data sourced from a wide range of vehicle-mounted sensors—something the company hopes will translate into more effective decision-making both in and outside of military vehicles.

The precise specs of the company’s various FOH configurations are predictably under wraps though, which are said to include models for on-the-ground soldiers, pilots, and various types of ground vehicle operators.

Image courtesy Distance Technologies

On the company website however, Distance says FOH includes technology that “creates an independent lightfield for each eye, allowing us to control the perceived distance of the content on a per-pixel level. This makes it possible to match virtual elements 1-to-1 with reality for a completely natural XR experience.”

It’s also said to allow for visualizations that “appear on top of reality across the entire field of view, perfectly matching the observable world people see and experience around them.”

FOH is expected to be available for NATO and allied field trials by the end of Q1 2026, with broader deployment planned from 2027 through defense prime contractors.

Founded in 2024 the Helsinki, Finland-based company is involved in building what it calls “the first true glasses-free XR solution.” It was founded by a host of XR veterans, including a cadre of alums from fellow Finnish XR startup Varjo, including Urho Konttori, Jussi Mäkinen, Mikko Strandborg, Thomas M. Carlsson, and Petteri Timonen.

Filed Under: AR Development, ar industry, News, XR Industry News

VITURE Calls XREAL Lawsuit “patent-troll-style” in Escalating AR Glasses IP Battle

January 20, 2026 From roadtovr

AR glasses maker XREAL is taking its competitor VITURE to court over a patent dispute, claiming that it’s selling and/or importing units into the US that infringe on its intellectual property. Viture claims however that Xreal is using the suit as a weapon to unfairly compete in the market rather than as a legitimate defense of innovation.

Xreal announced last week it was bringing a lawsuit against its direct competitor Viture, both of which have operating roots in China.

Xreal claims that Viture unlawfully makes, sells, and imports AR glasses that infringe its US patent, which covers a specific birdbath-style optical system. Notably, birdbath-style optics a generally cheaper and more easily produced than waveguides, like those seen in Meta’s 2024 Orion AR prototype.

VITURE Luma | Image courtesy VITURE

In a recent Reddit post, Viture has publicly disavowed Xreal’s narrative, arguing that Xreal is essentially acting as a patent troll.

“We deeply respect intellectual property,” Viture says. “IP exists to protect genuine innovation and to move an industry forward, not to be weaponized to create fear, confusion, or artificial barriers. Unfortunately, what we are seeing today does not reflect that principle.”

Continuing: “From our perspective, this bears striking resemblance to a patent-troll-style action that targeted XREAL last year, and now mirrors the same tactics being used against us.”

Technically, Viture argues that Xreal’s patent in question (US 11,988,839 B2) covers birdbath optical technology that is long-established and largely covered by expired prior art.

Viture claims that similar patents have already been rejected in China, that its products do not infringe, and that Xreal’s patent adds only minor, appearance-level changes rather than true optical innovation. Furthermore, Viture characterizes the patent as low-value and easily invalidated.

XREAL Aura | Image courtesy Google

A major point of contention is what Viture calls “deliberate misinformation,” specifically Xreal’s claims that its products are “banned across nine European countries.”

Viture maintains this as false: only the Viture Pro in Germany was affected by a preliminary injunction (as outlined by Android Authority), the product was already sold out, and all other products remain legally sold across Europe.

The company has appealed the injunction and filed a formal challenge to the patent’s validity, and says it has initiated legal action over what it calls “the deliberate circulation of false claims.”

Granted, it may be some time before we hear more about this case, as it’s just been filed in the Eastern District of Texas, and is still in early procedural stages. There is not public trial date at the time of this writing.


You can read Viture’s full response here on Reddit.

Filed Under: ar industry, News, XR Industry News

Meta Pauses International Release of Meta Ray-Ban Display Glasses

January 7, 2026 From roadtovr

Meta Ray-Ban Display glasses seem to be selling too well, as the company announced it’s delaying the international rollout of its first display-clad smart glasses.

The News

Initially released in the US back in September, Meta said it was hoping to bring the $800 smart glasses to a number of regions in early 2026, which includes a single color display embedded in the right lens.

Now, the company says in a blog post it’s decided to “pause” the planned expansion to the UK, France, Italy and Canada, citing “unprecedented demand and limited inventory.”

Meta Ray-Ban Display Glasses & Neural Band | Image courtesy Meta

The company characterizes stock as “extremely limited,” noting that its seen an “overwhelming amount of interest, and as a result, product waitlists now extend well into 2026.”

Meta says it will continue to focus on fulfilling orders in the US while they “re-evaluate [the] approach to international availability.”

My Take

I was looking forward to getting my hands on a pair of Meta Ray-Ban Display glasses here in Italy, one of the regions currently on “pause”—which my Corpo-to-English translator says I probably shouldn’t hold my breath.

While Meta Ray-Ban Display can’t do everything promised just yet—and doesn’t actually have an app store—the device can do a fair number of things I was hoping to test out if it fit into my daily life.

After all, it can do everything the audio-only Ray-Ban Meta glasses can do in addition to serving up a viewfinder for taking photos and video, the ability to see and respond to messages via WhatsApp, Facebook Messenger, and Instagram, and give you turn-by-turn walking directions in supported cities.

Turn-by-turn Directions in Meta Ray-Ban Display | Image courtesy Meta

Months after launch, Meta says it’s also now pushed an update that includes a teleprompter, the previously teased EMG handwriting, as well as more cities for pedestrian navigation.

Still, it makes a lot more sense from a manufacturing perspective. Meta needs to go slow and deliberate with Meta Ray-Ban Display though, if only based on the fact that the device has likely been heavily subsidized to not be eye-wateringly expensive out of the gate; the company is no doubt eating the fairly high bill of materials if only based on waveguide wastage rates. No app store also means no app revenue, making the first-gen decidedly more of a large beta test than anything.

So, right now it seems like Meta is deliberately going slow to make sure use cases, distribution, and supply chain are all in place before really cashing in on the second gen—maybe following Quest’s playbook; in 2019, the company released the original Quest only to toss out Quest 2 a year later, making for the company’s best-selling XR device to date—and also leaving everyone who bought the first-gen to upgrade only a year later.

Filed Under: AR Development, ar industry, News, XR Industry News

Magic Leap Signs Deal with Taiwan’s Pegatron, Strengthening AR Manufacturing Position

January 5, 2026 From roadtovr

Magic Leap announced a manufacturing partnership with Pegatron, a major global electronics manufacturer, to scale production of AR glasses components, including Magic Leap’s waveguide technology.

The News

Under the agreement outlined in a press statement, Pegatron will apply its manufacturing capabilities to help turn Magic Leap’s optical designs into mass-produced components.

Taiwan-based Pegatron specializes in developing and producing computing, communications, and consumer electronics for major brands, in addition to being the parent company of PC component company ASRock.

Details are still under wraps, however Magic Leap Product and Partner Development exec Jade Meskill says the partnership will create “a clear path to bring AR components to market at scale.”

“This collaboration reflects the growing maturity of the AR ecosystem,” said Jason Cheng, Vice Chairman at Pegatron. “By combining Magic Leap’s component-level expertise with Pegatron’s manufacturing infrastructure, we can support more efficient pathways from development to production.”

This follows the announcement in October that Magic Leap was entering into a multi-year AR hardware partnership with Google.

My Take

Despite early market missteps that saw millions (if not billions) go to the development of its ML 1 and ML 2 headsets, Magic Leap seems to be making good on its pivot from AR headset creator to major AR component player, as the company is leveraging its designs, know-how and catalogue of patents to stay in the fight.

And despite the years of grinding, it’s a fight that still hasn’t really heated up just yet, as companies like Meta, Apple and Google are still in deep in preparation to create their own AR glasses (note: not smart glasses) for release sometime before 2030.

Still, if the coming AR revolution is anything like the smartphone revolution of the early 2000s, there will potentially be a lot of players beyond those three tech giants to spin up competition when AR components eventually get cheaper with economies of scale.

And while we’re not there yet, Magic Leap seems to have found a solid raison d’être in the meantime, and a much better shot at one day becoming profitable as a result.

Filed Under: ar industry, AR Investment, News, XR Industry News

Meta Reveals Next-Gen Ray-Ban & New Oakley Vanguard Smart Glasses

September 17, 2025 From roadtovr

Undoubtedly the smart glasses headliner of Meta Connect this year was the new $800 Meta Ray-Ban Display Glasses, which pack in a single display into a familiar Wafarer-style package. Alongside it though, Meta showed off two new smart glasses: the Oakley Meta Vanguard and next generation of Ray-Ban Meta.

Oakley Meta Vanguard – $499 (available Oct 21)

Oakley Meta Vanguard | Image courtesy Meta

Before Meta and Essilor Luxottica released Oakley Meta HSTN in July, we were definitely envisioning something more like the new Oakley Meta Vanguard. But it’s better late than never, as Meta has just unveiled its sleek, blade-like frames they say are “built for high-intensity sports.”

Rated at IP67 dust and water resistance, Meta Oakley Vanguard is supposedly durable enough for sweaty workouts or rainy rides, with it targeting sports like cycling, snowboarding, and running.

Oakley Meta Vanguard | Image courtesy Meta

Notably, like many of its traditional specs, the new smart glasses use Oakley’s Three-Point Fit system, which includes three interchangeable nose pads for a more secure fit, with Meta noting the frames are optimized for use with cycling helmets and hats.

They also include an onboard 12MP, 122° wide-angle camera sensor for capturing video up to 3K resolution, with modes including Slow Motion, Hyperlapse, and adjustable image stabilization.

And just like Ray-Ban Meta, it features open-ear speakers, notably rated at six decibels louder than previous Meta Oakley HSTN models, including a wind-optimized five-mic array to provide clear audio for taking calls, using voice commands, or listening to music while training.

The newest Oakley’s also integrate with Garmin, Strava, Apple Health, and Android Health Connect, delivering post-workout summaries and real-time stats through Meta AI. Athletes can check heart rate, progress, or other data hands-free with voice prompts.

Oakley Meta Vanguard | Image courtesy Meta

Available in four frame/lens color combinations, the glasses weigh 66g and offer up to nine hours of mixed use (or six hours of music) on a single charge, with an additional 36 hours via the charging case. Quick charging is said to bring the glasses to 50% in just 20 minutes, Meta says.

Like all of the other Meta smart glasses on offer, they include 32GB of storage for over 1,000 photos or 100 short videos, the company says.

Since it’s built for high-intensity sports, it also means the company is introducing replaceable lenses, starting at $85. Here are all four models available for pre-order, including the lenses you’ll be able to mix and match later.

  • Oakley Meta Vanguard Black with PRIZMTM 24K
  • Oakley Meta Vanguard White with PRIZMTM Black
  • Oakley Meta Vanguard Black with PRIZMTM Road
  • Oakley Meta Vanguard White with PRIZMTM Sapphire

Oakley Meta Vanguard is now available for pre-order through Meta or Oakley, priced at for $499 and launching October 21st.

They’ll be available in the US, Canada, UK, Ireland, France, Italy, Spain, Austria, Belgium, Australia, Germany, Sweden, Norway, Finland, Denmark, Switzerland, and the Netherlands. Meta says they should also eventually launch in Mexico, India, Brazil, and the United Arab Emirates later this year.

Ray-Ban Meta (Gen 2) – Starting at $379 (Now Available)

Ray-Ban Meta Wayfarer (Gen 2) | Image courtesy Meta

While the company considers its next Ray-Ban Meta Glasses “Gen 2”, they’re technically the third generation following the release of Ray-Ban Facebook Stories in 2021 and Ray-Ban Meta in 2023.

Naming scheme aside, the latest Ray-Ban Meta smart glasses are delivering the same improvements seen in Oakley Meta HSTN, and essentially the same base functionality. While can play music, do real-time translation, and hands-free calls, but also offers better photo and video capture than its predecessor.

Its ultrawide 12MP camera sensor is rated for photo capture up to 3,024 × 4032 pixels and video from 1200p at 60 FPS 1440p at 30 FPS, and 3K at 30 FPS—all of which are up to three minutes in length.

Ray-Ban Meta Wayfarer (Gen 2) | Image courtesy Meta

Like Oakley Meta HSTN, Ray-Ban Meta (Gen2) boasts up to eight hours of continuous use and an additional 48 hours from the charging case, plus quick charge to 50% in 20 minutes in the charging case.

And it probably goes without saying, but all of Meta’s smart glasses make heavy use of its own Meta AI, which includes things like voice search queries (“Hey Meta!”), reading QR codes, suggesting recipes, saving notes, etc.

Ray-Ban Meta Skyler (Gen 2) | Image courtesy Meta

Additionally, the device includes Bluetooth 5.3, Wi-Fi 6, 32GB of storage, and an IPX4 water-resistance rating for light rain or splashes.

And like the 2023 model, the new Ray-Ban Meta smart glasses offer gads of frame and lens combinations: 27 in total across its Wayfarer and Skyler models, which include options for large or low nose bridges.

It is also getting a price bump over the first-gen, which were launched in 2023 for $299. Ray-Ban Meta (Gen 2) starts at $379 for standard lens options, and will be available with polarized lenses ($409), transitions lenses ($459), and prescription lenses (pricing varies).

You can find all of those models and lens combinations starting today over at Meta and Ray-Ban.com.


We’re currently on the ground at Meta Connect this year, so check back soon for all things XR.

Filed Under: AR Development, ar industry, News, XR Industry News

VITURE Launches ‘Luma Ultra’ AR Glasses with Sony Micro-OLED Panels

September 17, 2025 From roadtovr

VITURE has now launched Luma Ultra AR glasses, which pack in Sony’s latest micro-OLED to go along with spatial gesture tracking thanks to onboard sensor array.

Priced at $600, and now shipping worldwide, Viture Luma Ultra is targeting prosumers, enterprise and business professionals looking for a personal, on-the-go workspace.

Notably, these aren’t standalone devices, instead relying on PC, console and mobile tethering for compute, which means they integrate as external (albeit very personal) monitors.

Image courtesy VITURE

Luma Ultra is said to include a 52-degree field of view (FOV), Sony’s latest micro-OLED panels with a resolution up to 1200p and 1,250 nits peak brightness. Two depth sensing cameras are onboard in addition to a single RGB camera for spatial tracking and hand gesture input.

Unlike some AR glasses, which rely on slimming waveguide optics, Luma Ultra uses what’s called a ‘birdbath’ optic system, which uses a curved, semi-transparent mirror to project the digital image into the user’s eyes. It’s typically cheaper and easier to manufacture, and can also reach higher brightness at the expense of more bulk and weight.

Image courtesy VITURE

The device also includes an electrochromic film for tint control, myopia adjustments up to -4.0 diopters, and support for 64 ± 6mm interpupillary distance (IPD).

In reality, the company also launched a slate of AR glasses alongside it, which are targeted at consuming traditional media, positioning Viture Luma Ultra the company’s flagship device.

Check out the full lineup and spec below:

Image courtesy VITURE

Viture Luma ($400), Luma Pro ($500) and Luma Ultra ($600) are all estimated to ship within two weeks of ordering, with the next device, Luma Beast ($550) slated to ship sometime in November.

None of the devices above (besides Luma Ultra) include spatial tracking due to the lack of depth sensors, however Luma Beast is said to come with the same micro-OLED displays as Luma Ultra at a slightly larger 58-degree FOV and an auto-adjusting electrochromic film for tint control.

This follows the news of Viture’s latest funding round, which brought the San Francisco-based XR glasses company $100 million in Series B financing. which the company says will aid in global expansion of its consumer XR glasses. Viture says the funding will aid in global expansion of its consumer XR glasses.

Filed Under: AR Development, ar industry, News, XR Industry News

Snapchat CEO’s Open Letter Ties Spectacles AR Glasses to the Survival of the Company at Large

September 12, 2025 From roadtovr

According to Snap’s CEO Evan Spiegel, the company behind Snapchat has reached a “crucible moment” as it heads into 2026, which he says rests on the growth and performance of Spectacles, the company’s AR glasses, as well as AI, advertising and direct revenue streams.

Snap announced in June it was working on the next iteration of its Spectacles AR glasses (aka ‘Specs’), which are expected to release to consumers sometime next year. Snap hasn’t revealed them yet, although the company says the new Specs will be smaller and lighter, feature see-through AR optics and include a built-in AI assistant.

Snap Spectacles (gen 5) | Image courtesy Snap Inc

Following the release of the fifth gen in 2024 to developers, next year will be “the most consequential year yet” in Snap’s 14-year history, Spiegel says, putting its forthcoming generation of Specs in the spotlight.

“After starting the year with considerable momentum, we stumbled in Q2, with ad revenue growth slowing to just 4% year-over-year,” Spiegel admits in his recent open letter. “Fortunately, the year isn’t over yet. We have an enormous opportunity to re-establish momentum and enter 2026 prepared for the most consequential year yet in the life of Snap Inc.”

Not only are Specs a key focus in the company’s growth, Spiegel thinks AR glasses, combined with AI, will drastically change the way people work, learn and play.

“The need for Specs has become urgent,” Spiegel says. “People spend over seven hours a day staring at screens. AI is transforming the way we work, shifting us from micromanaging files and apps to supervising agents. And the costs of manufacturing physical goods are skyrocketing.”

Image courtesy Snap Inc, Niantic

Those physical goods can be replaced with “photons, reducing waste while opening a vast new economy of digital goods,” Spiegel says, something the company hopes to tap into with Specs. And instead of replicating the smartphone experience into AR, Spiegel maintains the core of the device will rely on AI.

“Specs are not about cramming today’s phone apps into a pair of glasses. They represent a shift away from the app paradigm to an AI-first experience — personalized, contextual, and shared. Imagine pulling up last week’s document just by asking, streaming a movie on a giant, see-through, and private display that only you can see, or reviewing a 3D prototype at scale with your teammate standing next to you. Imagine your kids learning biology from a virtual cadaver, or your friends playing chess around a real table with a virtual board.”

Like many of its competitors, Spiegel characterizes Specs as “an enormous business opportunity,” noting the AR device can not only replace multiple physical screens, but the operating system itself will be “personalized with context and memory,” which he says will compound in value over time.

Meanwhile, Snap competitors Meta, Google, Samsung, and Apple are jockeying for position as they develop their own XR devices—the umbrella term for everything from mixed reality headsets, like Meta Quest 3 or Apple Vision Pro, to smart glasses like Ray-Ban Meta or Google’s forthcoming Android XR glasses, to full-AR glasses, such as Meta’s Orion prototype, which notably hopes to deliver many of the same features promised by the sixth gen Specs.

And as the company enters 2026, Spiegel says Snap is looking to organize differently, calling for “startup energy at Snap scale” by setting up a sort of internal accelerator of five to seven teams composed 10 to 15-person squads, which he says will include “weekly demo days, 90-day mission cycles, and a culture of fast failure will keep us moving.”

It’s a bold strategy, especially as the company looks to straddle the expectant ‘smartphone-to-AR’ computing paradigm shift, with Spiegel noting that “Specs are how we move beyond the limits of smartphones, beyond red-ocean competition, and into a once-in-a-generation transformation towards human-centered computing.”


You can read Snap CEO Evan Spiegel’s full open letter here, which includes more on AI and the company’s strategies for growth, engagement and ultimately how it’s seeking to generate more revenue.

Filed Under: AR Development, ar industry, News, XR Industry News

Mojo Vision Secures $75M Investment to Commercialize Micro-LED Displays for XR Glasses

September 9, 2025 From roadtovr

Mojo Vision announced it’s secured a $75 million Series B Prime investment round, which the company says will support the commercialization of its powerful and flexible micro-LED platform for XR glasses.

The round was led by Vanedge Capital, and included investments from current shareholders Edge Venture Capital, New Enterprise Associates (NEA), Fusion Fund, Knollwood Capital, Dolby Family Ventures, and Khosla Ventures, and new shareholders, including imec.xpand, Keymaker, Ohio Innovation Fund, and Hyperlink Ventures.

This brings the company’s overall funding to $345 million, according to Crunch Base data; Mojo Vision’s penultimate round came in late 2023, amounting to $43.5 million.

While previously geared towards producing smart contact lenses, Mojo Vision is now all about the underlying micro-LED technology that initially generated headlines back in 2022.

Image courtesy Mojo Vision

At the time, it was expected Mojo Vision would commercialize a contact lens with embedded micro-LED display, however in April 2023 the company announced it was pivoting.

Founded in 2015, Mojo Vision is now building a type of micro-LED technology that allows the mass-production of them onto silicon chips, combining advanced components like gallium nitride (GaN) on silicon emitters, quantum dots, and micro-lens arrays. According to Mojo Vision, this makes the displays very bright, very small, and energy-efficient.

“Through our micro-LED technology development, Mojo has made significant advancements in establishing breakthrough performance standards while laying the foundation for micro-LEDs as a platform for AI innovation in large market segments,” said Nikhil Balram, CEO of Mojo Vision. “This oversubscribed funding round and strong industry support mark a new phase in the design and production of our next-generation micro-LED platform. The company is on an accelerated path to commercialize micro-LED applications that can power AI.”

The company says it’s targeting the micro-LED platform to build displays for XR glasses, but also large format displays and optical interconnects for AI infrastructure.

Filed Under: AR Development, ar industry, AR Investment, Investment, News, VR Development, vr industry, VR Investment, XR Industry News

Smart Contact Maker Raises $250M Investment at a Whopping $1.35B Valuation

July 9, 2025 From roadtovr

Smart contact lens startup XPANCEO announced it’s secured $250 million in Series A funding, putting its valuation at $1.35 billion and minting it as XR’s most recent unicorn.

The funding round was led by Opportunity Venture (Asia), which led the company’s $40 million Seed round in 2023, bringing its overall funding to $290 million, according to Crunchbase data.

XPANCEO, a UAE-based company, says the new funding will “accelerate the company’s mission to launch the world’s first all-in-one smart contact lens,” which is targeted to arrive by 2026.

While the company’s smart contacts are still in prototyping phase, XPANCEO says they will integrate XR, real-time health monitoring, night vision, and zoom features.

Display System with Sub-0.5 mm Projector | Image courtesy XPANCEO

“Becoming a unicorn is a powerful signal that we’re on the right path,” said Roman Axelrod, founder and Managing Partner at XPANCEO. “In just 24 months, we’ve developed 15 working prototypes, each unlocking a new layer of possibility. Our vision remains the same: to merge all your devices into a single, invisible interface – your eyes.”

Since its 2023 seed round, XPANCEO says its fleet of prototypes include a lens for AR vision, a smart lens with intraocular pressure (IOP) sensing for glaucoma monitoring, a biochemical lens capable of measuring health parameters such as glucose directly from tear fluid, and a lens capable of real-time wireless charging and data reading.

Other prototypes feature nanoparticle-enhanced lenses for night vision and color correction, as well as lenses designed for 3D imaging, the company says.

Smart Сontact Lens with Wireless Powering Companion | Image courtesy XPANCEO

Headed by serial entrepreneur Roman Axelrod and physicist Dr. Valentyn S. Volkov, XPANCEO has grown rapidly since its 2021 founding, expanding from 50 to 100 scientists, engineers, and business leaders. Meanwhile, its lab has expanded to support the increasing scope of its research, the company says.

Over the years, XPANCEO has collaborated with a number of institutions, including the University of Manchester, the National University of Singapore, Donostia International Physics Center, and the University of Dubai.

High-Sensitivity Compact IOP Sensor | Image courtesy XPANCEO

XPANCEO’s new unicorn status puts it alongside some of the most ambitious XR projects to date: AR headset company Magic Leap first broke the $1 billion valuation mark in 2014 with a $542 million Series B investment led by Google, putting it at a max of $6.4 billion valuation in 2018 following its landmark investment by Saudi Arabia’s Public Investment Fund (PIF).

Earlier this year, immersive web content company Infinite Reality announced it raised $3 billion from a private investor to build its “vision for the next generation of the internet,” bringing the company’s valuation to $12.25 billion.

Filed Under: AR Development, ar industry, AR Investment, News, XR Industry News

Next Page »

  • Home