Mojo Vision has been working on an AR contact lens. After a pivot, it is developing a display that could enable true AR glasses.
The Series A investment is led by existing investors NEA and Khosla Ventures, with participation from Dolby Family Ventures, Liberty Global Ventures, Fusion Fund, Drew Perkins, Open Field Capital, and Edge.
Mojo Vision had been working on an AR contact lens since 2015 and had come a long way in its development, but failed to close another round of funding for the product in 2022. The startup laid off many employees as a result and pivoted to developing micro -LED displays, for which it has now raised $22.4 million.
MicroLED technology is crucial for AR glasses
Micro-LEDs are being touted as the AR display technology of the future due to their small size and high brightness, pixel density, and efficiency. Apple, Google, and Meta: many major tech companies are researching and developing Micro-LED displays, and some have acquired startups to do so. However, it will be several years before the displays are ready for the market and can be produced in large quantities.
For its AR contact lens, Mojo Vision developed a tiny Micro-LED display with a pixel density of 14K. According to the press release, the company is working on Micro-LED displays with a pixel density of up to 28K and a brightness of more than one million nits. “Mojo Vision has developed a proprietary High Performance Quantum Dot (HPQD) technology to make very small, very bright, very efficient RGB pixels.”
The funding will be used to develop and commercialize its micro-LED display technology for consumer, enterprise and government applications.
“We started by developing the world’s smallest, densest dynamic micro-LED display, and now we are applying that innovation to power the next generation of displays,” says Nikhil Balram, who previously led Mojo Vision’s display division and now serves as CEO.