Mojo Vision Raises an Additional $51M to Fund Smart Contact Lens Development – Road to VR

Mojo Imaginative and prescient introduced it has raised greater than $51 million in a Sequence B-1 funding spherical, one thing the corporate says shall be used for additional growth on Mojo Lens, its sensible contact lens.

The corporate’s newest funding spherical was led by New Enterprise Associates, and contains participation by Gradient Ventures, Khosla Ventures, Liberty World Ventures, Struck Capital, Dolby Household Ventures, Motorola Options Enterprise Capital, Fusion Fund, Intellectus Companions, KDDI Open Innovation Fund, Numbase Group, InFocus Capital Companions, and others.

Dr. Greg Papadopoulos, PhD, enterprise associate at New Enterprise Associates, will be a part of Mojo Imaginative and prescient’s board of administrators.

The most recent funding spherical brings Mojo Imaginative and prescient’s whole funding to greater than $159 million, with its penultimate spherical thus far netting the corporate $58 million in March 2019.

Again at CES 2020 in January, Mojo introduced that it was constructing its sensible contact lens with built-in show, Mojo Lens. Though the corporate admitted then that it was nonetheless years away from commercialization for customers, Mojo is first planning to make use of its contacts for the visually impaired. Functions embrace real-time distinction and scene enhancement, one thing the corporate says will make navigation, impediment avoidance, and private interactions simpler for the visually impaired.

“The revealing of the small print of our product growth earlier this 12 months has generated elevated pleasure and momentum across the potential of Mojo Lens,” stated Mojo Imaginative and prescient CEO and co-founder Drew Perkins. “This new spherical of funding brings extra assist and capital from strategic traders and firms to assist us proceed our breakthrough know-how growth. It will get us nearer to bringing the advantages of Mojo Lens to individuals with imaginative and prescient impairments, to enterprises and finally, customers.”

The sensible contact lens remains to be in growth, nonetheless Quick Firm reported in January that Mojo Lens squeezes 70,000 pixels into lower than half a millimeter, a inexperienced monochrome microLED served up on to the attention’s fovea. Though it’s not an augmented actuality system as such, the corporate appears to be making critical inroads to creating a very wearable heads-up show (HUD), much like Google Glass in operate versus an AR headset reminiscent of Microsoft’s HoloLens.

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