There's little debate that, as tech pushes further into our lives, we'll soon be using augmented reality glasses that overlay computer images on the real world. While we still don't know when that'll happen, or what companies we'll be buying them from, investors are making their bets -- including a $159 million bet with a small contact lens startup called Mojo Vision.
The most high profile AR companies so far are Microsoft and , which are both betting we'll be wearing some form of the in the past couple years. Microsoft's already signed companies like oil producer Chevron, as well as various manufacturers and the military, . Magic Leap, meanwhile, has signed partnerships with companies including , but so far appears to be , which starts at $2,295.
They're far from alone. Facebook has Apple, meanwhile, is said to be working on a headset as well, which a source told CNET .in addition to its Oculus that put a screen so close to your eyes that it tricks your brain into believing you're in a computer-generated world.
Mojo Vision, a startup with staff made up of veterans from the tech industry's biggest hitters, including is betting we'll eventually be instead of computer-assisted glasses. And on Wednesday, the company announced it secured another $51 million in funding, bringing its total to more than $159 million. The funding was led by New Enterprise Associates (NEA), with participation from Gradient Ventures, Khosla Ventures, Dolby Family Ventures, Motorola Solutions Venture Capital and others. Mojo Vision declined to disclose what its valuation was but did say it rose with the new funding.
The new funding marks a vote of confidence among some investors despite Magic Leap's announcement earlier this month it was making killed more than 215,000 people around the globe and .. There's also the global economic slowdown caused by the pandemic, which has
It's unclear when Mojo Vision's smart contacts will make their way to market, but the company has been CES in Las Vegas this January, Mojo Vision allowing people to see text, sports scores, weather and other information in a lens held just in front of their eye.. During the annual
"They're not just meant to give everyday people James Bond powers in their eyes; they're really looking to assist people whose vision impairment could use help, like those with macular degeneration," CNET's Scott Stein wrote.
"We've been hard at work creating the world's first true smart contact lens, and by true we mean it really builds in all the capabilities of a solution that you can wear all day, and project augmented reality information to the wearer whenever you need it," said Steve Sinclair, vice president of product and marketing at Mojo Vision (and a veteran of Apple and Motorola.)
For now, it seems investors are willing to keep backing the company.