Mojo Imaginative and prescient, an organization as soon as famous for its work on sensible contact lenses, has raised $22.4 million in a brand new Sequence A funding spherical which it should use in a pivot to develop and commercialize micro-LED show know-how for client, enterprise, and authorities functions.
The funding spherical is led by current buyers NEA and Khosla Ventures, with participation from different buyers together with Dolby Household Ventures, Liberty International Ventures, Fusion Fund, Drew Perkins, Open Area Capital, and Edge.
The brand new Sequence A comes months after the corporate was pressured to place its sensible contact lenses on maintain, which additionally included a 75% downsizing within the firm’s workforce.
Previous to the pivot, the corporate had amassed $205 million in outdoors funding, with its most up-to-date in January 2022 bringing to the corporate $45 million.
Its new focus is on shows for AR/VR, automotive, gentle subject, massive format shows and others that require excessive efficiency micro-LED shows. Mojo’s prototype sensible contacts made use of its personal in-house shows, which on the time included a monochrome show able to over 14,000 pixels per inch (ppi).
Now the corporate is growing its personal Excessive Efficiency Quantum Dot (HPQD) know-how to make a “very small, very shiny, very environment friendly RGB pixel,” the corporate says in a press assertion.
The corporate is boasting plenty of advances in its proprietary know-how, together with dynamic shows with as much as 28,000ppi, environment friendly blue micro-LED gadgets at sub-μm scale, excessive effectivity quantum dot ink for pink and inexperienced, excessive brightness at 1M+ nits, and a show system that includes an optimized CMOS backplane, wafer-to-wafer bonding, and customized micro-lens optics.
Mojo Imaginative and prescient’s new CEO, Dr. Nikhil Balram, is claimed to convey semiconductor and show know-how experience to the corporate:
“The market alternative within the show business is massive – over $100 billion. Generally with the intention to do one thing very massive, you need to begin very small. That’s precisely what we’re doing at Mojo,” mentioned Balram. “We began by growing the world’s smallest, densest dynamic micro-LED show, and now we’re making use of that innovation to energy the subsequent era of shows. Mojo is combining breakthrough know-how, main show and semiconductor experience, and a sophisticated manufacturing course of to commercialize micro-LEDs for probably the most demanding {hardware} functions.”
“This spherical of funding will allow us to ship our breakthrough monolithic micro-LED know-how to clients and assist convey high-performance micro-LEDs to market,” concluded Balram.
