Mojo Vision, a California-based startup, has secured $22 million in funding to further develop its micro-LED display technology for use in extended reality (XR) and other applications. The company, which was founded in 2015, has been working on developing a contact lens with an embedded display that can provide augmented reality (AR) information to the wearer.
The latest funding round was led by Advantech Capital and included participation from existing investors such as Khosla Ventures, Gradient Ventures, and Motorola Solutions Venture Capital. The funds will be used to accelerate the development of Mojo Vision’s micro-LED display technology and expand its team.
Mojo Vision’s micro-LED display technology is designed to be small enough to fit into a contact lens, but powerful enough to provide high-resolution images. The company’s goal is to create a display that is invisible to the wearer, but can provide real-time information such as directions, notifications, and health data.
The company’s shift in focus from creating a contact lens with an embedded display to developing micro-LED displays for XR and other applications is a strategic move. The market for XR is expected to grow significantly in the coming years, with projections showing that it will reach $209 billion by 2022. Mojo Vision’s micro-LED displays could be used in a variety of XR applications, including gaming, education, and healthcare.
Mojo Vision’s micro-LED displays have several advantages over traditional displays. They are more energy-efficient, have a higher contrast ratio, and are brighter than traditional displays. Additionally, they can be made smaller and thinner than traditional displays, making them ideal for use in wearable devices such as smartwatches and fitness trackers.
Mojo Vision is not the only company working on micro-LED displays. Apple is also reportedly working on developing micro-LED displays for use in its products. However, Mojo Vision’s focus on creating displays for XR and other applications sets it apart from other companies in the space.
In conclusion, Mojo Vision’s $22 million funding round and shift in focus to micro-LED displays for XR and other applications is a strategic move that positions the company for success in a growing market. The company’s micro-LED displays have several advantages over traditional displays and could be used in a variety of applications, including gaming, education, and healthcare. With the support of its investors, Mojo Vision is well-positioned to continue developing its technology and bringing it to market.
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