Mojo Imaginative and prescient introduced it’s secured a $75 million Sequence B Prime funding spherical, which the corporate says will assist the commercialization of its highly effective and versatile micro-LED platform for XR glasses.
The spherical was led by Vanedge Capital, and included investments from present shareholders Edge Enterprise Capital, New Enterprise Associates (NEA), Fusion Fund, Knollwood Capital, Dolby Household Ventures, and Khosla Ventures, and new shareholders, together with imec.xpand, Keymaker, Ohio Innovation Fund, and Hyperlink Ventures.
This brings the corporate’s general funding to $345 million, in line with Crunch Base knowledge; Mojo Imaginative and prescient’s penultimate spherical got here in late 2023, amounting to $43.5 million.
Whereas beforehand geared in direction of producing sensible contact lenses, Mojo Imaginative and prescient is now all concerning the underlying micro-LED expertise that originally generated headlines again in 2022.
On the time, it was anticipated Mojo Imaginative and prescient would commercialize a contact lens with embedded micro-LED show, nevertheless in April 2023 the corporate introduced it was pivoting.
Based in 2015, Mojo Imaginative and prescient is now constructing a kind of micro-LED expertise that permits the mass-production of them onto silicon chips, combining superior elements like gallium nitride (GaN) on silicon emitters, quantum dots, and micro-lens arrays. In response to Mojo Imaginative and prescient, this makes the shows very shiny, very small, and energy-efficient.
“By means of our micro-LED expertise improvement, Mojo has made vital developments in establishing breakthrough efficiency requirements whereas laying the inspiration for micro-LEDs as a platform for AI innovation in massive market segments,” stated Nikhil Balram, CEO of Mojo Imaginative and prescient. “This oversubscribed funding spherical and robust business assist mark a brand new section within the design and manufacturing of our next-generation micro-LED platform. The corporate is on an accelerated path to commercialize micro-LED purposes that may energy AI.”
The corporate says it’s focusing on the micro-LED platform to construct shows for XR glasses, but additionally massive format shows and optical interconnects for AI infrastructure.
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