California-based Mojo Vision has raised an additional $45 million in its Series B-1 investment round to further develop its smart contact lens technology. The additional funding includes investments from Amazon Alexa Fund, PTC, Edge Investments, HiJoJo Partners, and others.
Existing investors NEA, Liberty Global Ventures, Advantech Capital, AME Cloud Ventures, Dolby Family Ventures, Motorola Solutions and Open Field Capital have also participated.
These new investments bring Mojo Vision’s total funding to date to $205 million.
A sporting chance
The self-styled 'Invisible Computing Company' has also announced strategic partnerships with leading sports and fitness brands to collaborate on next-generation user experiences that combine augmented reality, wearable technology and personal performance data.
Partners include Adidas, Trailforks, Wearable X, Slopes, and 18Birdies. The companies will work together using Mojo's smart contact lens technology, Mojo Lens, to find unique ways to improve access to data and enhance athletes’ performance during sporting activities.
In a new survey of over 1,300 athletes, Mojo Vision found that athletes very much rely on wearable data and are expressing a need for different ways for data to be delivered. The study showed that almost three out of four (74%) people usually or always use a wearable to track performance data during their workout or activity.
Steve Sinclair, SVP of product and marketing at Mojo Vision said, “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. 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”.
David Hobbs, senior director of product management at Mojo Vision added, “Wearable innovation in existing form factors is starting to reach its limits. At Mojo, we're interested in better understanding what's still missing and how we can make that information accessible without disrupting someone's focus and flow during training — when it matters most."