Micro-LED company Mojo Vision has secured $43.5 million in a Series A investment round to advance its micro-LED display technology across applications and bring it to commercialisation.
This comes six months after the initial Series A raise of $22.4 million was announced by the company. The funding also follows some company achievements such as showcasing its high-density (14K ppi) real red micro-LED display and successfully lighting up the 300mm blue GaN-on-Silicon micro-LED array wafer.
Mojo Vision CEO Nikhil Balram says, “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.”
Creating world-class AR displays
The micro-LED market is predicted to grow significantly, with projections suggesting that 51.7 million units will be shipped by 2030. Mojo Vision has created its own High-Performance Quantum Dot (HPQD) tech as it aims to design the world’s tiniest and most efficient RGB pixels. This tech is expected to greatly enhance the performance of advanced displays for augmented reality (AR) and mixed reality (MR).
“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,” said Drew Perkins, Mojo Vision co-founder and chairman of the board. “From the initial ideation of Mojo Vision, our engineers have set our technology apart as a catalyst to enhance user experiences.”
The 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.
Isa Muhammad is a writer and video game journalist covering many aspects of entertainment media including the film industry. He's steadily writing his way to the sharp end of journalism and enjoys staying informed. If he's not reading, playing video games or catching up on his favourite TV series, then he's probably writing about them.
