Amazon backed Nordic startup IXI bags $36.5 million in Series A funding for autofocus glasses product

Finnish startup IXI has raised $36.5 million in Series A funding to launch what is pitched as the world’s first autofocus glasses that reimagine specs not as a medical device, but as a tech enhanced lifestyle accessory fit for modern consumers.

The investment was led by London-based investment fund Plural, with participation from Finnish investment companies Tesi, Heartcore, FOV Ventures, and byFounders; French private equity firm Eurazeo; and German investment company Tiny Supercomputer.

XI’s existing backers, which include Amazon Alexa Fund, Maki.vc and First Fellow, firstminute capital, David Helgason, Ilkka Paananen, John Lindfors and Bragiel Brothers also participated in the round.

The cash will enable the product development of IXI Adaptive Eyewear; kicking off commercial operations and putting the product in the hands of consumers.

IXI was founded in 2021 by Niko Eiden (CEO) and Ville Miettinen (Chief Algorithm Officer). Eiden and Miettinen previously founded mixed reality company Varjo (which makes products for advanced VR users including astronauts, pilots, and nuclear power plant operators).

The venture was born out of a shared frustration with the compromises people are forced to make when it comes to traditional progressive lenses: narrow fields of view, peripheral distortion, and difficulty seeing clearly at varying distances.

The founders’ experience in advanced optics and eye tracking solutions inspired them to create eyewear that aims to solve the challenge of vision correction and liberates people from poor eyesight, without compromising on design.

2025 RTIH INNOVATION AWARDS

Startups will be a key focus area at the 2025 RTIH Innovation Awards.

The awards, which are now open for entries, celebrate global tech innovation in a fast moving omnichannel world.

Our 2024 hall of fame entrants were revealed during an event which took place at RIBA’s 66 Portland Place HQ in Central London on 21st November, and consisted of a drinks reception, three course meal, and awards ceremony presided over by comedian Lucy Porter.

In his welcome speech, Scott Thompson, Founder and Editor, RTIH, said: “The event is now into its sixth year and what a journey it has been. The awards started life as an online only affair during the Covid outbreak, before launching as a small scale in real life event and growing year on year to the point where we’re now selling out this fine, historic venue.”

He added: “Congratulations to all of our finalists. Many submissions did not make it through to the final stage, and getting to this point is no mean feat. Checkout-free stores, automated supply chains, immersive experiences, on-demand delivery, next generation loyalty offerings, inclusive retail, green technology. We’ve got all the cool stuff covered this evening.”

“But just importantly we’ve got lots of great examples of companies taking innovative tech and making it usable in everyday operations - resulting in more efficiency and profitability in all areas.”

Congratulations to our 2024 winners, and a big thank you to our sponsors, judging panel, the legend that is Lucy Porter, and all those who attended November's gathering. 

For further information on the 2025 RTIH Innovation Awards, please fill in the below form and we will get back to you asap.