Finnish startup IXI has secured $36.5 million in Series A funding to advance its development of smart prescription glasses that automatically adjust focus using eye-tracking and liquid crystal lens technology. The funding round was led by London-based VC firm Plural, with participation from investors including the Amazon Alexa Fund, Tesi, byFounders, Heartcore, Eurazeo, FOV Ventures, and Tiny Supercomputer.
Founded by former Nokia and Varjo engineers, IXI aims to address presbyopia by creating low-power glasses that seamlessly adjust focus without user intervention. Unlike other smart glasses that incorporate augmented reality features, IXI’s focus is solely on improving vision clarity. The company’s technology involves a compact device embedded in the frame that tracks eye movements and adjusts the lenses accordingly.
CEO Niko Eiden emphasized the potential of the eyewear market, citing estimates that place its value at over $200 billion and growing at a rate exceeding 8%, outpacing the growth of smartwatches and smartphones. Eiden noted that while virtual and augmented reality technologies have garnered attention, they have yet to achieve significant consumer adoption, leading IXI to focus on practical applications for vision correction.
The company, previously known as Pixieray, is currently finalizing the design and pricing of its glasses, which are expected to be priced similarly to high-end smartphones. IXI estimates a battery life of approximately two days for its glasses, with lenses built to accommodate nearsighted prescriptions, ensuring users can still see clearly even if the battery depletes.
IXI’s approach distinguishes itself by focusing on enhancing natural vision without the distractions of additional digital features. By targeting a broad demographic, including those who have undergone laser-eye surgery and now require reading glasses, the company aims to provide a seamless solution for vision correction.
