News: LEDs
16 October 2023
Mojo Vision almost doubles Series A funding round to $43.5m
Six months after an initial Series A close of $22.4m, Mojo Vision Inc of Saratoga, CA, USA — which is developing and commercializing micro-LED display technology for consumer, enterprise and government applications — has announced a final close of its $43.5m new Series A investment round to advance its micro-LED display technology across applications and bring it to commercialization. The funding round is 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.
“Mojo Vision has shown tremendous momentum as it has expanded its focus on micro-LED development over the past year,” says CEO Nikhil Balram. “The funding round drew remarkable interest from investors and exceeded our expectations, with our final figure doubling the amount of our initial raise in this round.”
The funding follows several company milestones including demonstrating the world’s highest-density (14K ppi) true red micro-LED micro-display and successful light-up of the first-ever 300mm blue GaN-on-silicon micro-LED array wafer.
“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,” says Vanedge Capital’s managing partner and new Mojo Vision board member Moe Kermani. “Mojo Vision’s pioneering advancements in core micro-LED technology, display design, and manufacturing, places them in a strong position to dominate the market,” he comments.
The micro-LED market is expected to see substantial growth, with estimates indicating 51.7 million units will be shipped by 2030. Mojo Vision developed proprietary High Performance Quantum Dot (HPQD) technology to engineer what is claimed to be the world’s smallest and most efficient RGB pixels. The technology is expected to significantly improve the performance of augmented reality (AR) and mixed reality (XR) advanced displays.
“We are thrilled to further our investment in Mojo Vision, having been with the company from the very start,” says Shanda’s chairman & CEO Tianqiao Chen. “This successful funding round signals the industry’s and venture community’s shared belief in the potential of their pioneering work in advanced displays,” he adds.
Mojo Vision developed what as claimed to be the world’s smallest, densest micro-LED display for dynamic content in 2019. The firm’s micro-LED technology delivers tiny pixels with ultra-high brightness, high efficiency, and a slim form factor.
“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,” says Mojo Vision’s co-founder & chairman Drew Perkins.
Mojo Vision and DigiLens partner on products for AR glasses
Mojo Vision develops first 300mm GaN-on-Si blue LED wafer for micro-LED display
