Mojo Vision, a Saratoga, Calif.-based invisible computing company, raised more than $51m in Series B-1 funding round.
The round, which brought total funding to date to more than $159m, was led by New Enterprise Associates with participation from Gradient Ventures, Khosla Ventures, Liberty Global Ventures, Struck Capital, Dolby Family Ventures, Motorola Solutions Venture Capital, Fusion Fund, Intellectus Partners, KDDI Open Innovation Fund, Numbase Group, InFocus Capital Partners, and others. In conjunction with the funding, Greg Papadopoulos, PhD, venture partner at NEA, will join Mojo’s board of directors.
The company intends to use the funds to accelerate the development of its smart contact lens, called Mojo Lens.
Led by CEO and co-founder Drew Perkins, Mojo is in the process of building Mojo Lens, a contact lens with a built-in display that is designed to give people useful and timely information without forcing them to look down at a screen or lose focus on the people and the world around them. The company calls this eyes-up experience Invisible Computing, a platform that enables information to be instantaneous, unobtrusive, and available hands-free. Mojo is planning an early application of Mojo Lens to help people who live with vision impairment. By using enhanced image overlays, this application is designed to serve as a visual aid, providing real-time contrast and scene enhancement that will make navigation, obstacle avoidance and personal interactions easier.
The company is actively working with the U.S. Food and Drug Administration (FDA) through its Breakthrough Devices Program, a voluntary program designed to provide safe and timely access to medical devices that can help treat irreversibly debilitating diseases or conditions. Mojo Lens is currently in the research and development phase and is not available for sale anywhere in the world.