Mojo Vision pivots to MicroLED after AR contact lens investor search fails


Picture: Mojo Vision

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Mojo Vision has been researching AR contact lenses for many years. Going forward, the company wants to focus on MicroLED.

For more than a decade, Mojo Vision has been working on the Mojo Lens AR contact lens for the medical sector and, in prospect, everyday use. Along the way, he introduced several prototypes that had already been tested by users. Mojo Vision was aiming for commercialization around 2025.

Mojo Vision cannot find investors

Now, Mojo Vision has announced a change in strategy: going forward, it focus on commercializing the MicroLED technology developed for the lens, which it sees as having “significant short-term market potential”. The work on the contact lens must be “slowed down”.

For the contact lens, Mojo Vision has developed a screen the size of a grain of sand with a pixel density of 14K. Drew Perkins, CEO of Mojo Vision, believes that MicroLED will “disrupt the entire $160 billion display industry” and sees Mojo Vision’s technology as a step ahead. It could be used for applications such as next-generation headphones, advanced televisions and video walls, he said. MicroLED is seen as a future technology for VR and AR which is still difficult to manufacture.

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The Mojo Lens’ MicroLED screen showed monochrome green images. | Picture: Mojo Vision

Mojo Vision cites a lack of investors in an overall difficult economic environment as the reason for the change in strategy. “The collapsing global economy, extremely tight capital markets, and the yet-to-be-proven market potential for advanced AR products have all contributed to a situation in which Mojo Vision has been unable to find additional private funding to continue the development of Mojo Lens,” said Mojo Vision CEO Drew Perkins.

The missed round and the focus on MicroLED have structural consequences: Mojo Vision lays off 75% of its employees in all departments.

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Too big a project with too little money

Mojo Vision’s chief marketing officer, Steve Sinclair, spoke about the need for additional funding as early as last summer. At that time, the company had about 110 employees and a capital of about 205 million dollars, too little for a project of this scale.

In the consumer market, the lens would have required a body-worn computer as the drive, and it would have had to be custom-made for each customer, increasing the cost and complexity of distribution.

Still, Perkins is proud of the technology developed so far, saying Mojo Lens is a “monumental technical and medical achievement that others have only dreamed of”. Mojo Vision’s “invisible computing” vision is only on hold, he said.

“We strongly believe there will be a future market for Mojo Lens and plan to accelerate it when the time comes,” Perkins said.


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