Mojo Vision – a high-performance micro-LED company – recently 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. This funding round was 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 closing comes six months after the company announced an initial Series A close of $22.4 million.
This funding round comes on the heels of several company milestones, including demonstrating the world’s highest-density (14K ppi) true red micro-LED microdisplay and the successful light-up of the first-ever 300mm blue GaN-on-Silicon micro-LED array wafer.
The micro-LED market is expected to see rapid growth, with estimates indicating 51.7 million units will be shipped by 2030. And Mojo Vision developed proprietary High Performance Quantum Dot (HPQD) technology to engineer the world’s smallest and most efficient RGB pixels. This technology is expected to significantly improve the performance of augmented reality (AR) and mixed reality (XR) advanced displays.
Mojo Vision’s engineering team developed the world’s smallest, densest micro-LED display for dynamic (or moving) content in 2019. And Mojo Vision’s micro-LED technology delivers tiny pixels with ultra-high brightness, high efficiency, and a slim form factor.
KEY QUOTES:
“Mojo Vision has shown tremendous momentum as it has expanded its focus on micro-LED development over the past year. 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.”
— Mojo Vision chief executive officer Nikhil Balram
“Micro-LED displays are vital for high-performance, energy-efficient screens required in the next generation of AR/VR headsets, smart wearables, and even automotive applications. Mojo Vision’s pioneering advancements in core micro-LED technology, display design, and manufacturing places them in a strong position to dominate the market.”
— Vanedge Capital’s managing partner and new Mojo Vision board member Moe Kermani
“We are thrilled to further our investment in Mojo Vision, having been with the company from the very start. This successful funding round signals the industry’s and venture community’s shared belief in the potential of their pioneering work in advanced displays, and we’re eager to support them on this next phase of their journey.”
— Tianqiao Chen, chairman and CEO of Shanda
“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. From the initial ideation of Mojo Vision, our engineers have set our technology apart as a catalyst to enhance user experiences.”
— Drew Perkins, Mojo Vision co-founder and chairman of the board
