Mojo Vision – a high-performance micro-LED company – announced a $22.4 million new Series A investment round to propel the development and commercialization of its micro-LED display technology for consumer, enterprise, and government applications. This funding round was led by existing investors NEA and Khosla Ventures with participation from additional investors including Dolby Family Ventures, Liberty Global Ventures, Fusion Fund, Drew Perkins, Open Field Capital, and Edge.
Mojo Vision is building the next-generation of micro-LEDs that will disrupt the global display industry, whose revenues are expected to exceed $160 billion in 2026, according to leading display market research company DSCC. And Mojo Vision has identified market opportunities in the areas of augmented and virtual reality (AR/VR), automotive, light field display, large format displays, and others that require high performance micro-LED displays in order to drive broader adoption.
In 2019, Mojo Vision had developed the smallest, densest dynamic display ever made, which is also a critical component of its smart contact lens (Mojo Lens). This original monochrome display technology from Mojo Vision delivered a world record pixel pitch of over 14,000 ppi, which made it the smallest / densest display for dynamic content. Recently Mojo Vision announced that it was decelerating work on its smart contact lens in order to direct resources to the development and commercialization of its world-class Micro-LED display technology.
Along with the funding announcement, Mojo Vision announced that Dr. Nikhil Balram – who previously led the display group at Mojo – has been appointed chief executive officer. And Dr. Balram has over 30 years of semiconductor and display technology experience as he most recently held the position of chief executive officer at AR systems company EyeWay Vision and also previously led the Display Group at Google, leading development of display systems for all Google consumer hardware products including AR/VR. Plus his past positions include chief executive officer at Ricoh Innovations, vice president and general manager at Marvell Semiconductor, and chief technology officer of National Semiconductor’s Display Group.
Mojo Vision co-founder Dr. Mike Wiemer will continue as chief technology officer at the company. And other key team members with deep experience in display technology include Dr. Paul S. Martin (senior vice president of display engineering) and Dr. Grace Lee (VP of display product management). Mojo Vision co-founder Drew Perkins will remain as chairman of the board and the Mojo team includes micro-LED, display, and semiconductor specialists with experience at companies like Google, Apple, HP, Marvell, National Semiconductor, IBM, AU Optronics, Lumileds, and Philips. Mojo Vision’s innovations are protected by a portfolio of over 220 patents so far.
KEY QUOTES:
“Dr. Balram is widely recognized and respected throughout the display industry for his technical and business successes. He was awarded the prestigious Otto Schade Prize in 2016 for his outstanding contributions to the advancement of image quality of information displays.”
— Dr. Achin Bhowmik, president of the Society for Information Display (SID), the leading professional society for the display industry
“The market opportunity in the display industry is big – over $100 billion. Sometimes in order to do something very big, you have to start very small. That is exactly what we are doing at Mojo. We started by developing the world’s smallest, densest dynamic micro-LED display, and now we are applying that innovation to power the next generation of displays. Mojo is combining breakthrough technology, leading display and semiconductor expertise, and an advanced manufacturing process to commercialize micro-LEDs for the most demanding hardware applications.”
“This round of funding will enable us to deliver our breakthrough monolithic micro-LED technology to customers and help bring high-performance micro-LEDs to market.”
— Dr. Nikhil Balram, CEO of Mojo Vision
