California, USA-based high-performance micro-LED company Mojo Vision closed its Series A financing at USD 43.5 million. The company announced the closure on October 12, 2023. Long-time investors New Enterprise Associates (NEA) and Khosla Ventures and new investor Vanedge Capital led the financing for the company. Shanda Grab Ventures, Dolby Family Ventures, Advantech Capital, Liberty Global Ventures, Drew Perkins, Fusion Fund, Open Field Capital and Knollwood Investment Fund joined in the financing. Earlier, the company announced an initial Series A close of USD 22.4 million six months before.
Purpose of financing for Mojo Vision
With the latest financing from the Series A funding, Mojo Vision seeks to advance its micro-LED display technology across applications and bring it to commercialization.
What the company’s official has to add
Mojo Vision’s chief executive officer, Nikhil Balram, said, “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.”
What the investors have to comment
Vanedge Capital’s managing partner and new Mojo Vision board member, Moe Kermani, said, “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.”
In addition, Tianqiao Chen, chairman and CEO of Shanda, said, “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.”
Besides, Drew Perkins, Mojo Vision co-founder and chairman of the board, said, “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.”
About Mojo Vision
Drew Perkins and Michael Wiemer launched the company in 2015. Mojo Vision is focused on developing and commercializing high-performance micro-LED display technology for consumer, enterprise, and government applications.
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