NEA has led a series B1 round for the smart contact lens developer, whose existing shareholders include Stanford-StartX.
Mojo Vision, a US-based augmented reality technology developer backed by Stanford-StartX, received more than $51m yesterday in a series B1 round led by VC firm New Enterprise Associates (NEA).
Mobile engagement technology supplier Numbase invested directly in the round, while mass media group Liberty Global, internet technology provider Google, communications equipment producer Motorola Solutions and telecoms firm KDDI took part through Liberty Global Ventures, Gradient Ventures, Motorola Solutions Venture Capital and KDDI Open Innovation Fund.
Khosla Ventures, Struck Capital, Dolby Family Ventures, Fusion Fund, Intellectus Partners and InFocus Capital Partners completed the line-up.
Mojo Vision is working on a smart contact lens that will utilise a built-in display to provide information to users directly in their field of vision without them needing to look at external displays. It is intended to function as a visual aid for those with poor eyesight.
Drew Perkins, co-founder and chief executive of Mojo Vision, 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 latest round came in the wake of a $58m series B round in March 2019 featuring Motorola Solutions Venture Capital, Gradient Ventures, Kakao Ventures and HP Tech Ventures – subsidiaries of computing technology provider HP and internet group Kakao.
Stanford-StartX, electronics producer LG, Advantech Capital and Bold Capital Partners also contributed to the 2019 round, announced four months after Mojo Vision emerged from stealth with $50m in funding.
Liberty Global and Shanda Group, an investment vehicle for online content provider Shanda Interactive, took part in the earlier round together with Open Field Capital, NEA, Khosla Ventures, AME Cloud Ventures, Fusion Fund, 8VC and Dolby Family Ventures.
– A version of this article first appeared on our sister site, Global Corporate Venturing.
