Mojo Vision $43.5M Series A, shifts to micro-LED development

Mojo Vision made headlines in the spring by securing a substantial $22.4M in Series A funding. Six months later, this startup has successfully managed to augment its funding almost twofold, amassing an incredible $43.5M, with generous contributions from co-leaders New Enterprise Associates (NEA) and Khosla Ventures.

• Strategic Shifts: The company's transformative journey started around CES last year when they decided to pivot from their original mission: the creation of augmented reality contact lenses. Instead, they resolved to focus on a more immediately achievable goal: the production of micro-LED panels.

• Product Demo: They proudly showcased their first creation in June: a pioneering red micro-LED display. This isn't an ordinary display, it represents a vital leap towards adding green and blue colors and realizing the dream of full-color display.

• Product Stats: This innovative red display boasts a staggering 14K PPI resolution. To draw a comparison, the micro-OLED displays used by Apple Vision Pro approximately have a PPI of 3,400, while the iPhone 15 Pro Max's display has a PPI of around 460.

• Exclusive Technology: Mojo Vision's technological developments are driven by the research they've conducted for their contact lens project, which includes their own exclusive quantum-dot technology.

Despite the inherent risks of betting high on mixed reality, especially considering the historical struggle to mainstream AR and VR, Mojo Vision is undeterred. Meta, the current leader, has achieved only moderate success, leaving the field wide open for Apple to potentially disrupt next year.