Augmented reality contact lens company Mojo Vision landed $51 million in a new round of funding, the company announced Wednesday.
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New Enterprise Associates led the round, with participation from investors such as Khosla Ventures and Gradient Ventures. The new funding brings Saratoga, California-based Mojo Vision’s total funding to more than $159 million, according to the company.
Mojo Vision is developing smart contact lenses with a built-in display. This “invisible computing,” as the company calls it, allows wearers to access useful information without having to look down at a screen.
The Mojo Lens is currently in the research and development phase and not available for sale, according to the company. But an early version of the lens is in the works to help those who have visual impairments.
Mojo Vision is working with the Food and Drug Administration’s Breakthrough Devices Program as it develops a lens that provides scene enhancement and contrast to help visually impaired people.
“The unveiling of the details of our product development earlier this year has generated increased excitement and momentum around the potential of Mojo Lens,” CEO Drew Perkins said in a statement. “This new round of funding brings more support and capital from strategic investors and companies to help us continue our breakthrough technology development. It gets us closer to bringing the benefits of Mojo Lens to people with vision impairments, to enterprises and eventually, consumers.”
Along with the new funding, the company announced that NEA venture partner Greg Papadopoulos will join Mojo Vision’s board of directors.
Illustration Credit: Li-Anne Dias