Smart contact lens startup spins, lays off 75% of staff

Smart contact lens startup spins, lays off 75% of staff

Mojo Imaginative and prescient is an initiative that takes years of effort. create a smart contact lens with built-in displayit’s coming back from that focus and shedding three quarters of its employees.

why is it essential: A few of the most bold efforts within the tech house are dealing with challenges in a slowing financial system and a tougher fundraising surroundings, notably round augmented and digital actuality.

Element: The corporate mentioned a blog post is shifting its latest research to give attention to the micro-LED show expertise it has developed to be used in good contact.

between the traces: The corporate confirmed off a working prototype final yr, but it surely was nonetheless years away from commercialization.

  • “Even whereas making important strides in product growth, Mojo has confronted important challenges in elevating capital,” CEO Drew Perkins mentioned in a weblog submit.
  • “The collapsing international financial system, extraordinarily tight capital markets, and as-yet unproven market potential for superior AR merchandise have contributed to a state of affairs the place Mojo Imaginative and prescient has not been capable of finding further non-public funding to proceed growing Mojo Lens.”

Huge image: Mojo Imaginative and prescient was not alone in its pursuit of good connections.

  • Google has invested in growing lenses that can be utilized to measure blood sugar, however this has confirmed to be misleading.
  • Startups like Innovega, in addition to different massive names, together with Samsung, have explored the house.

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