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Mojo Vision secures $43.5M for MicroLED development

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California-based startup Mojo Vision has recently made significant strides in the world of augmented and virtual reality (AR/VR) technology. This article delves into their journey, from raising substantial investments to their pioneering work with MicroLEDs.

Breaking Ground in AR/VR Display Technology

Mojo Vision has achieved a remarkable milestone by securing $43.5 million in funding, aimed at advancing the development and commercialization of MicroLEDs. These cutting-edge displays are being hailed as the future of AR/VR technology, offering several advantages over traditional display technologies, including small size, high pixel density, brightness, and energy efficiency.

A Crowded Field of Innovators

Major players in the tech industry, such as Meta, Apple, and Google, have turned their focus to MicroLED displays. They recognize the transformative potential of MicroLEDs in revolutionizing the way we experience augmented and virtual reality. In their quest to remain at the forefront of innovation, some of these giants have acquired startups specializing in MicroLED technology.

However, despite the rapid progress being made, it will still be a matter of years before MicroLED screens are fully prepared for mass market production. These high-performance, energy-efficient displays represent a significant leap forward for AR/VR headsets, smart wearables, and even applications in the automotive industry.

MicroLED vs. OLED Microdisplays

It’s essential to distinguish MicroLEDs from OLED microdisplays. While the latter are already being used in the first wave of commercial VR headsets, such as Bigscreen Beyond and Apple Vision Pro, MicroLEDs offer an even more promising display technology with the potential to revolutionize the industry.

A Significant Funding Milestone

Mojo Vision’s successful Series A funding round has seen them raise a substantial $43.5 million. This investment nearly doubles their initial funding, signifying strong support and belief in the potential of their MicroLED technology.

Leading this investment is New Enterprise Associates (NEA) and Khosla Ventures, along with a new investor, Vanedge Capital. Other notable contributors include Shanda Grab Ventures, Dolby Family Ventures, Advantech Capital, Liberty Global Ventures, Drew Perkins, Fusion Fund, Open Field Capital, and Knollwood Investment Fund.

A Promising Outlook

Vanedge Capital’s Managing Partner and Mojo Vision’s newly appointed board member, Moe Kermani, expressed their confidence in the technology, stating, “MicroLED displays are vital for high-performance, energy-efficient screens required in the next generation of AR/VR headsets, smart wearables, and even automotive applications.” Mojo Vision’s advancements in MicroLED technology, display design, and manufacturing position them as strong contenders in the market.

From AR Contact Lenses to MicroLEDs

Initially, Mojo Vision focused its efforts on developing AR contact lenses, but they decided to pivot in 2022, shifting their attention to MicroLED displays. Their work on monochrome MicroLED displays, comparable in size to a grain of sand with an impressive pixel density of 14K, set the stage for their journey into advanced RGB displays. These innovative displays are expected to hit the commercial market in the coming years.

In their vision for the future, Mojo Vision aims to produce MicroLEDs with a brightness exceeding one million nits and a pixel density of 28K, a remarkable leap in display technology. Their commitment to pushing the boundaries of display capabilities is one of the driving forces behind their impressive funding success.

Potential for Acquisition

As the AR and VR industries continue to grow, the importance of MicroLEDs cannot be understated. These displays are a crucial component for everyday AR glasses, and major players like Meta, Apple, and Google are all working tirelessly to develop next-generation products. With their groundbreaking MicroLED technology, Mojo Vision has positioned themselves as a potential target for acquisition by tech giants seeking to gain a competitive edge in the AR/VR arena.