Mojo Vision, a high-performance microLED company, has announced a final close of its $43.5 million new Series A investment round to advance its micro-LED display technology across applications and bring it to commercialization.
The funding round is led by long-time investors New Enterprise Associates (NEA) and Khosla Ventures, and new investor Vanedge Capital, with participation from Shanda Grab Ventures, Dolby Family Ventures, Advantech Capital, Liberty Global Ventures, Drew Perkins, Fusion Fund, Open Field Capital and Knollwood Investment Fund. The final close comes six months after the company announced an initial Series A close of $22.4 million.
“Mojo Vision has shown tremendous momentum as it has expanded its focus on micro-LED development over the past year,” says Mojo Vision chief executive officer, Nikhil Balram.
“The funding round drew remarkable interest from investors and exceeded our expectations, with our final figure almost doubling the amount of our initial raise in this round. Our next-generation display technology is state-of-the-art in brightness, efficiency and form factor, positioned to disrupt a global industry.”
The microLED market is expected to see substantial growth, with estimates indicating 51.7 million units will be shipped by 2030. The company says it developed proprietary High Performance Quantum Dot (HPQD) technology to engineer the world’s smallest and most efficient RGB pixels. The technology is expected to significantly improve performance of augmented reality (AR) and mixed reality (XR) advanced displays.
According to the company, its team of engineers developed the world’s smallest, densest micro-LED display for dynamic – or moving – content in 2019. The company’s microLED technology delivers tiny pixels with ultra-high brightness, high efficiency, and a slim form factor.
“Mojo Vision developed a world-class AR display the size of a grain of sand and is now extending that same technology across the industry for the next generation of displays,” adds Drew Perkins, Mojo Vision co-founder and chairman of the board.
“From the initial ideation of Mojo Vision, our engineers have set our technology apart as a catalyst to enhance user experiences.”
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