Skip to main content

Smart contact lens startup Mojo Vision raises $51M

Mojo Vision’s technology still felt early-stage when we met with them back at CES. But the demos we did see were enough to convince us that there really could be something to the California startup’s smart content lens technology.

Clearly we weren’t alone in that. The company just announced that it has raised more than $51 million as part of a Series B-1, led by New Enterprise Associates (NEA), along with Gradient Ventures, Khosla Ventures, Liberty Global, Struck Capital, Dolby Family Ventures, Motorola Solutions Venture Capital and others. The lofty raise puts its total funding at north of $159 million. The move also finds NEA’s venture partner Greg Papadopoulos joining Mojo’s board.

As expected, Mojo’s using the large raise to help productize its technology. The company says it is currently working with the FDA’s Breakthrough device Program to introduce early applications for the technology focused on the visually impaired.

“The unveiling of the details of our product development earlier this year has generated increased excitement and momentum around the potential of Mojo Lens,” Mojo CEO and co-founder Drew Perkins said in a statement. “This new round of funding brings more support and capital from strategic investors and companies to help us continue our breakthrough technology development. It gets us closer to bringing the benefits of Mojo Lens to people with vision impairments, to enterprises and eventually, consumers.”

Timing for the product is still an open question. For now it remains little more than a cool technology. But taking it for a test drive gives you a notion of how revolutionary if could be if the company makes it across the finish line. And now it’s got significantly more financial support to help it get there.



from Startups – TechCrunch https://ift.tt/3d2E6Gp

Comments

Popular posts from this blog

Thousands of cryptocurrency projects are already dead

Two sites that are actively cataloging failed crypto projects, Coinopsy and DeadCoins , have found that over a 1,000 projects have failed so far in 2018. The projects range from true abandonware to outright scams and include BRIG , a scam by two “brothers,” Jack and Jay Brig, and Titanium , a project that ended in an SEC investigation. Obviously any new set of institutions must create their own sets of rules and that is exactly what is happening in the blockchain world. But when faced with the potential for massive token fundraising, bigger problems arise. While everyone expects startups to fail, the sheer amount of cash flooding these projects is a big problem. When a startup has too much fuel too quickly the resulting conflagration ends up consuming both the company and the founders and there is little help for the investors. These conflagrations happen everywhere are a global phenomenon. Scam and dead ICOs raised $1 billion in 2017 with 297 questionable startups in the mix. The

Dance launches its e-bike subscription service in Berlin

German startup Dance is launching its subscription service in its hometown Berlin. For a flat monthly fee of €79 (around $93 at today’s exchange rate), users will get a custom-designed electric bike as well as access to an on-demand repair and maintenance service. Founded by the former founders of SoundCloud and Jimdo , the company managed to raise some significant funding before launching its service. BlueYard led the startup’s seed round while HV Capital (formerly known as HV Holtzbrinck Ventures) led Dance’s €15 million Series A round, which represented $17.7 million at the time. E-bike subscription service Dance closes $17.7M Series A, led by HV Holtzbrinck Ventures The reason why Dance needed so much capital is that the company has designed its own e-bike internally. Called the Dance One, it features an aluminum frame and weighs around 22kg (48.5lb). It has a single speed and it relies on its electric motor to help you go from 0 to 25kmph. And the best part is that you