Mojo Vision announced it’s raised an additional $45 million in its Series B-1 investment round, something the company says will support further development of Mojo Lens, its early stage smart contact lens.
Mojo Lens is ostensibly years away from commercialization, however the company announced at CES 2022 that it’s taking a step forward by partnering with a number of fitness brands to explore how to better integrate its smart contact lenses into sports and training. Mojo Vision has partnered with Adidas Running, Trailforks, Wearable X, Slopes and 18Birdies.
“We are making important progress in developing our smart contact lens technology, and we continue to research and identify new market potential for this groundbreaking platform,” said Steve Sinclair, SVP of product and marketing of Mojo Vision. “Our partnerships with these leading brands will give us valuable insights into user behavior in the sports and fitness market. The goal is for these collaborations to deliver athletes an entirely new form factor with performance data that is more accessible and useful in the moment.”
The company is also currently working with the U.S. Food and Drug Administration (FDA) through its Breakthrough Devices Program, a voluntary program for certain medical devices that provide for more effective treatment or diagnosis of life-threatening or irreversibly debilitating diseases or conditions.
Much like Elon Musk’s brain-computer interface (BCI) startup Neuralink, Mojo Vision sees early applications first targeting those afflicted with bodily impairments; in Mojo’s case, it aims to use Mojo Lens to create enhanced image overlays to alleviate certain visual impairments.
The fresh Series B-1 includes investments from Amazon Alexa Fund, PTC, Edge Investments, HiJoJo Partners, and others. Mojo Vision’s existing investors include NEA, Liberty Global Ventures, Advantech Capital, AME Cloud Ventures, Dolby Family Ventures, Motorola Solutions, and Open Field Capital.
This brings the company’s total lifetime investment to $205 million.