# IXI Secures $36.5M to Sharpen Focus on Autofocus Prescription Glasses

## IXI Secures $36.5M to Sharpen Focus on Autofocus Prescription Glasses

Helsinki-based startup IXI is emerging from stealth mode with a vision to revolutionize the prescription eyewear market. Founded four years ago, the company has secured $36.5 million in funding, including investment from the Amazon Alexa Fund, to develop low-power glasses that automatically adjust to correct for presbyopia, or farsightedness. This innovative technology promises to eliminate the need for multiple pairs of glasses or cumbersome varifocals.

IXI is leveraging advancements in eye-tracking and liquid crystal lens technology to create a seamless and user-friendly experience. The glasses will invisibly monitor the wearer’s eyes and adjust the lenses in real-time, ensuring clear vision at any distance.

The Series A funding round was led by London-based VC firm Plural, with participation from Tesi, byFounders, Heartcore, Eurazeo, FOV Ventures, Tiny Supercomputer, and existing investors. The involvement of such a diverse and experienced group of investors highlights the potential of IXI’s technology and its ambition to disrupt the $200 billion eyewear market.

“Eyewear is the last great frontier,” says Niko Eiden, CEO and co-founder of IXI. He points out that the eyewear market is growing faster than smartwatches and smartphones, making it a prime target for innovation.

The IXI team has a strong pedigree in mobile technology and mixed reality. Previously known as Pixieray, the company was founded by individuals who worked on groundbreaking mobile technology at Nokia, which was later used in the HoloLens at Microsoft. Eiden and his team also founded Varjo, a mixed-reality headset developer focused on the enterprise market.

While acknowledging the potential of VR and mixed reality, Eiden notes the challenges of establishing a booming consumer market in that space. Microsoft’s recent discontinuation of HoloLens 2 underscores these difficulties. IXI believes that the focus on AR/VR has overlooked the potential to improve eyesight through medical-grade eyewear.

“There really aren’t that many trying to use technology to actually fix eyesight, and that’s kind of the cool part for us,” Eiden explains. The glasses will not have the additional features of AR/VR glasses, such as email and social media access, or gaming. The sole purpose of the IXI glasses is to help users see more clearly.

While specific technical details remain under wraps, IXI has filed patents around its smart eyewear. The glasses will utilize a small device embedded in the frame to track eye movement and communicate with liquid crystal lenses that adjust accordingly. The goal is to provide a single pair of glasses that can handle both distance and near vision, eliminating the need for bifocals or multiple pairs.

IXI estimates the battery life of the glasses to be around two days. The lenses will be built with near-sighted prescriptions to allow users to see distant objects, even if the battery dies.

IXI faces competition from other companies pursuing autofocus eyewear, such as Elcyo (Japan) and Laclarée (France), but IXI’s elegant design and experienced team may set it apart. While Vixion (Japan) has released autofocus eyewear, their devices have clunky, camera-like features.

Amazon’s investment in IXI is particularly notable. According to Eiden, his previous relationship with Jeff Bezos facilitated a quick “yes” from the tech giant. Paul Bernard, head of the Alexa Fund, believes that IXI’s team is “well suited” to tackle the challenges of auto-tuning lenses, given their experience with Varjo.

With the increasing reach of Amazon’s pharmacy business, the company could potentially leverage economies of scale in eyewear production to address both corrective vision and AR/VR use cases.

While IXI has proven its technology in the lab, a prototype is expected to be available later this year. The company did not provide a specific timeline for a market-ready product, emphasizing that regulatory approvals are required for medical devices.

“Niko, Ville and the team’s rare European hardware expertise puts them at the forefront of advanced optics and eye-tracking developments,” says Sten Tamkivi, a partner at Plural. “By backing IXI, we’re not just investing in a company, but in a future where technology revolutionises how we see the world.”