MicroLED developer Mojo Vision announced that it has closed its Series A funding round, raising $43.5 million. In April 2023 the company announced the first trench of its Series A funding ($22.4 million), which means that the company now raised $21.1 million.
This round was led by long-time investors (New Enterprise Associates and Khosla Ventures) and new investors (Vanedge Capital) with participation from several investors including Shanda Grab Ventures, Dolby Family Ventures, Advantech capital and Fusion Fund.
Mojo Vision, a MicroLED Industry Association member, developed microLED microdisplay technologies for the AR market, and the company developed the world's highest density displays and smallest microLED devices - up to 28,000 PPI using sub-micron LEDs. Mojo Vision recently announced that it has lit-up its first 300 mm GaN-on-Silicon blue microLED array wafer. The company says it is on track to maturing its 300 mm CMOS fab process.
In June 2023, Mojo Vsion announced that it has developed the world's highest-density (1.87 um pixel pitch) red (620 nm) microLED microdisplay. Mojo produced a first working prototype of its display, that is based on 1.37 um blue LEDs with QD color conversion.
Mojo Vision started as a smart contact lens developer, that raised over $200 million to develop its technologies, including the microLED technologies its solution required. In 2023, the company laid of most of its employees, decelerated the contact lens development and focused almost entirely on its microLED microdisplay technologies. The company successfully pivoted to microdisplay technologies and managed to close a meaningful series A investment round that will enable it to accelerate its R&D and bring its technology to market.