Mojo Vision’s technology still felt early-stage when we consulted with them back at CES. The demos we did see were enough to convince us that there really might be something to the California start-up’s clever material lens technology.
Plainly we weren’t alone because. The business just announced that it has raised more than $51 million as part of a Series B-1, led by New Business Associates (NEA), together with Gradient Ventures, Khosla Ventures, Liberty Global, Struck Capital, Dolby Household Ventures, Motorola Solutions Equity Capital and others. The lofty raise puts its total funding at north of $159 million. The move likewise discovers NEA’s endeavor partner Greg Papadopoulos joining Mojo’s board.
As expected, Mojo’s utilizing the big raise to help productize its innovation. The company states it is currently working with the FDA’s Advancement gadget Program to present early applications for the innovation focused on the visually impaired.
“The unveiling of the information of our item advancement previously this year has produced increased enjoyment and momentum around the capacity of Mojo Lens,” Mojo CEO and co-founder Drew Perkins said in a statement. “This new round of financing brings more assistance and capital from strategic financiers and companies to assist us continue our breakthrough innovation advancement. It gets us closer to bringing the advantages of Mojo Lens to people with vision disabilities, to business and eventually, consumers.”
Timing for the item is still an open question. In the meantime it stays little more than a cool technology. But taking it for a test drive gives you a concept of how revolutionary if might be if the business makes it across the goal. And now it’s got considerably more financial backing to assist it arrive.
Article curated by RJ Shara from Source. RJ Shara is a Bay Area Radio Host (Radio Jockey) who talks about the startup ecosystem – entrepreneurs, investments, policies and more on her show The Silicon Dreams. The show streams on Radio Zindagi 1170AM on Mondays from 3.30 PM to 4 PM.