Mojo raises $51 million for smart contact lenses
Mojo Vision Inc. (Saratoga, Calif.) was founded in 2015 and has now raised more than $159 million in total although the company is still in the research phase.
The Mojo Lens gives people access to additional information without looking away to a smartphone or computer screen. Mojo calls this “eyes-up experience” invisible computing. Although the company has developed a prototype the company is expecting a couple of years of regulatory review by the U.S. Food and Drug Administration (FDA) before a commercial launch. Initial products are being targeted at those with vision impairment.
An early application of the Mojo Lens will be to help people with vision impairment by providing image enhancement overlays. These could be real-time contrast and scene enhancement to help with obstacle avoidance and navigation.
Mojo Vision’s latest round of funding was led by New Enterprise Associates (NEA) with participation from Khosla Ventures, Dolby Family Ventures, Motorola Solutions Venture Capital, KDDI Open Innovation Fund and others. Greg Papadopoulos, venture partner at NEA, will join its board of directors.
Prior to NEA, Papadopoulos was CTO of Sun Microsystems and before Sun, he was an Associate Professor of EECS at the Massachusetts Institute of Technology (MIT).
“The potential applications of this innovative technology could fundamentally change the way we work and view our world as well as improve the quality of life for people with vision impairment,” said Papadopoulos, in a statement issued by Mojo Vision.
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