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 Collection A funding spherical which it should use in a pivot to develop and commercialize micro-LED show know-how for shopper, 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 Collection A comes months after the corporate was compelled 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, mild area, giant 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 creating 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 numerous advances in its proprietary know-how, together with dynamic shows with as much as 28,000ppi, environment friendly blue micro-LED units at sub-μm scale, excessive effectivity quantum dot ink for crimson 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 carry semiconductor and show know-how experience to the corporate:
“The market alternative within the show trade is huge – over $100 billion. Typically to be able to do one thing very huge, it’s a must to begin very small. That’s precisely what we’re doing at Mojo,” mentioned Balram. “We began by creating the world’s smallest, densest dynamic micro-LED show, and now we’re making use of that innovation to energy the following era of shows. Mojo is combining breakthrough know-how, main show and semiconductor experience, and a complicated 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 carry high-performance micro-LEDs to market,” concluded Balram.