IXI Raises $36.5M to Develop Autofocus Prescription Glasses
Finnish startup IXI has secured $36.5 million in Series A funding to develop innovative autofocus prescription glasses. The funding round, led by London-based VC Plural, includes participation from the Amazon Alexa Fund, Tesi, and other investors.
IXI's glasses utilize eye-tracking and liquid crystal lens technology to automatically adjust focus for presbyopia (farsightedness). This eliminates the need for multiple pairs of glasses or cumbersome varifocals.
From Mobile Tech to Vision Correction
IXI's team comprises former Nokia engineers who contributed to groundbreaking mobile technology, including the Microsoft HoloLens. Co-founders Niko Eiden (CEO) and Ville Miettinen (Chief Algorithm Officer) previously founded Varjo, a mixed-reality headset company.
Eiden believes eyewear is ripe for disruption. He notes the $200 billion eyewear market is growing faster than smartwatches and smartphones.
Eyewear is the last great frontier.
Unlike AR/VR devices, IXI focuses on improving eyesight as a medical device. The glasses aim to provide clearer vision without additional features like email or social media integration.
How IXI Glasses Work
IXI's glasses incorporate a small device in the frame that tracks eye movements. This data informs the liquid crystal lenses, which automatically adjust for optimal focus. The glasses will have a built-in nearsightedness correction, ensuring clear vision even if the battery depletes.
While other companies are exploring autofocus eyewear, IXI aims for a more seamless design. Competitors like Elcyo and Laclarée are still in development, while Vixion's autofocus glasses feature visible camera-like components.
Investor Confidence and Future Plans
IXI's experienced team and innovative technology have attracted significant investor interest. Eiden's prior connection with Jeff Bezos facilitated Amazon's investment.
The idea of bringing on-demand vision-correction to where it’s needed in Rx eyewear is compelling.
IXI has filed several patents for its technology. The company plans to showcase a prototype later this year, but a market launch date is yet to be determined. Regulatory approvals will be required before the glasses can be sold.
While the path to market may be challenging, IXI's potential to revolutionize vision correction has generated significant excitement among investors.
