AR developer Mojo Vision announced that as it finds it challenging to raise more funds, it is changing its focus to develop its microLED technology and "decelerating" its work on the smart contact lens system.
According to reports, Mojo Vision has laid off 75% of its employees - it is estimated that the company laid off around 100 employees (it had around 150 employees before the change). The company's CEO says that the its microLED display technology has "is significant near-term market potential".
In early 2022 Mojo Vision announced that it has raised $45 million in its Series B-1 round, which brought its total funding to $205 million. But this was obviously not enough to fully commercialize the technology.
Mojo Vision has developed a 14,000 PPI monochrome (green) microLED microdisplay. This is likely to be the world's highest-density microLED display. It will be interesting to see how its technology compares with other microLED and OLED microdisplay technologies. There are dozens of companies that compete in this space, including Sony, Samsung, LG, BOE and others.