Start-up Mojo Vision has raised more than US$51 million (AU$77 million) in new funding to accelerate the development of what it calls the world’s ‘first true smart contact lens’.
The Californian company is producing the Mojo Lens, a contact lens with a built-in display that is designed to provide wearers with useful information without requiring them to look down at a screen or lose focus.
Mojo calls this eyes-up experience ‘Invisible Computing’, using microelectronics and the “world’s densest microdisplay” to layer digital images and information seamlessly into the wearer’s field of vision.
Mojo’s latest round of funding was led by New Enterprise Associates and takes its total funding to more than US$159 million (AU$242 m).
“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 Vision CEO and co-founder Mr Drew Perkins said.
“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.”
The company is planning an early application of Mojo Lens to help people 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.
Mojo is working with the US Food and Drug Administration through its Breakthrough Devices Program, a voluntary scheme designed to provide safe and timely access to medical devices that can help treat irreversibly debilitating diseases or conditions.