In a major development, Mojo Vision has successfully raised an additional $21.1 million in its Series A funding round, bringing the total to an impressive $43.5 million. This latest boost comes courtesy of prominent investors New Enterprise Associates (NEA) and Khosla Ventures, who co-led the round. This substantial investment offers further validation for Mojo Vision’s groundbreaking technology.
Key Takeaway
Mojo Vision has secured an additional $21.1 million, bringing their Series A funding total to $43.5 million. With a strategic pivot towards micro-LED displays, the company has showcased its innovative prowess and aims to revolutionize user experiences. As Mojo Vision continues to gain momentum, the future of mixed reality technology looks promising.
The Pivot and the Promise of Micro-LED Displays
Mojo Vision made waves earlier this year when it announced its decision to pivot away from its initial plan of creating augmented reality contact lenses. Instead, the company redirected its efforts towards the development of micro-LED panels, which have immense potential in the display market.
In June, Mojo Vision achieved a crucial milestone by successfully producing a red micro-LED display. With an astounding 14K PPI resolution, this breakthrough puts the company at the forefront of display technology. It should be noted that Apple’s Vision Pro micro-OLED displays currently stand at around 3,400 PPI, while the iPhone 15 Pro Max offers a density of 460 PPI for its screen.
Building on Technological Foundations
The red micro-LED display is the result of Mojo Vision’s extensive research and development, which initially aimed at creating displays for its ambitious contact lens project. Leveraging its proprietary quantum-dot technology, the company has managed to create a world-class AR display that is miniature in size but holds substantial potential for revolutionizing user experiences.
Co-founder Drew Perkins expressed enthusiasm for the company’s progress, stating, “From the initial ideation of Mojo Vision, our engineers have set our technology apart as a catalyst to enhance user experiences.”
Looking Towards the Future
While Mojo Vision’s focus on mixed reality technology may be seen as a risky proposition considering the challenges faced by the AR and VR industry over the years, the company remains optimistic about its potential. Despite the limited success of industry leader Meta, Mojo Vision believes that they can be at the forefront of the next generation of display technology.
All eyes now turn to Apple, as their entry into the mixed reality space next year might significantly impact the industry’s trajectory. Mojo Vision’s Series A funding milestone positions them as a key player in the race to shape the future of immersive digital experiences.
