In a significant move driving innovation in micro-LED technology, Mojo Vision, the high-performance micro-LED company, has successfully concluded its new Series A funding round, securing a total of $43.5 million. The funding round was led by longstanding investors New Enterprise Associates (NEA) and Khosla Ventures, along with new investor Vanedge Capital. Other participants included Shanda Grab Ventures, Dolby Family Ventures, Advantech Capital, Liberty Global Ventures, Drew Perkins, Fusion Fund, Open Field Capital, and Knollwood Investment Fund.
This successful funding round, coming six months after the initial Series A close of $22.4 million, underscores the growing interest and confidence in Mojo Vision’s pioneering micro-LED display technology. Mojo Vision CEO Nikhil Balram expressed his enthusiasm about the substantial support received from investors, stating, “Mojo Vision has shown tremendous momentum as it has expanded its focus on micro-LED development over the past year. Our next-generation display technology is state-of-the-art in brightness, efficiency, and form factor, positioned to disrupt a global industry.”
Mojo Vision’s micro-LED technology has achieved significant milestones, including demonstrating the world’s highest-density (14K ppi) true red micro-LED microdisplay and the successful illumination of the first-ever 300mm blue GaN-on-Silicon micro-LED array wafer. These breakthroughs mark a significant step forward in the development of high-performance, energy-efficient screens necessary for the next generation of augmented reality (AR) and virtual reality (VR) headsets, smart wearables, and automotive applications.
Vanedge Capital’s Managing Partner and new Mojo Vision board member Moe Kermani emphasized the importance of micro-LED displays, stating, “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 place them in a strong position to dominate the market.”
Mojo Vision’s proprietary High Performance Quantum Dot (HPQD) technology, which enables the engineering of the world’s smallest and most efficient RGB pixels, holds promise in significantly enhancing the performance of augmented reality (AR) and mixed reality (XR) advanced displays. The micro-LED market is expected to experience substantial growth, with estimates indicating that 51.7 million units will be shipped by 2030.
Tianqiao Chen, Chairman, and CEO of Shanda, expressed his confidence in Mojo Vision’s innovative work, stating, “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.”
Mojo Vision’s team of engineers has developed the world’s smallest, densest micro-LED display for dynamic – or moving – content, delivering tiny pixels with ultra-high brightness, high efficiency, and a slim form factor. Drew Perkins, Mojo Vision co-founder, and Chairman of the Board highlighted the company’s commitment to enhancing user experiences, stating, “From the initial ideation of Mojo Vision, our engineers have set our technology apart as a catalyst to enhance user experiences.”
Mojo Vision’s recent funding success positions the company as a key player in the evolution of micro-LED technology, with the potential to revolutionize industries reliant on high-performance displays, marking a significant step forward in the future of augmented and virtual reality, wearables, and automotive applications.
