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Mojo Vision raises $45 million to adapt its augmented reality contact lenses for sports and fitness applications.
Saratoga, California-based Mojo Vision calls itself the Invisible Computing Company.It announced a strategic partnership with sports and fitness brands to collaborate on the development of next-generation user experiences that combine augmented reality, wearable technology and personal performance data.
The two companies will collaborate to use Mojo’s smart contact lens technology, Mojo Lens, to find unique ways to improve data access and enhance athletes’ performance in sports.
Additional funding includes investments from Amazon Alexa Fund, PTC, Edge Investments, HiJoJo Partners and more.Existing investors NEA, Liberty Global Ventures, Advantech Capital, AME Cloud Ventures, Dolby Family Ventures, Motorola Solutions and Open Field Capital also participated.
Yellow Contacts
Mojo Vision sees an opportunity in the wearables market to deliver performance data and data to data-conscious athletes such as runners, cyclists, gym users, golfers, etc. Real-time statistics.
Mojo Vision is establishing multiple strategic partnerships with fitness brands to address the unmet performance data needs of athletes and sports enthusiasts.The company’s initial partners include Adidas Running (running/training), Trailforks (biking, hiking/outdoors), Wearable X (yoga), Slopes (snow sports) and 18Birdies (golf).
Through these strategic partnerships and the market expertise provided by the company, Mojo Vision will explore additional smart contact lens interfaces and experiences to understand and improve data for athletes of different skill levels and abilities.
“We have made important progress in developing smart contact lens technology, and we will continue to research and identify new market potential for this groundbreaking platform,” Steve Sinclair, senior vice president of product and marketing at Mojo Vision, said in a statement Said. “Our collaborations with these leading brands will provide us with valuable insights into user behavior in the sports and fitness market. The goal of these collaborations is to provide athletes with an entirely new form factor that incorporates performance that is now more accessible and useful. data.”
Global wearable device shipments will grow 32.3% year-on-year from 2020 to 2021, according to the latest research from International Data Corporation (IDC).This remarkable and continued growth in the wearable technology market is led by companies that are continually improving and releasing fitness trackers, smartwatches, smartphone apps and other wearables primarily aimed at improving users of sports and fitness enthusiasts experience.However, new data shows there may be gaps in the type and accessibility of data that athletes and fitness enthusiasts want.
In a new survey of more than 1,300 athletes, Mojo Vision found that athletes rely heavily on wearable data and said a different approach to data delivery is needed.Research shows that almost three-quarters (74%) of people usually or always use wearables to track performance data during workouts or activities.
However, while today’s athletes rely on wearable technology, there is high demand for devices that can better provide real-time data about their performance – 83% of respondents said they would benefit from real-time data – time or at the moment.
Additionally, half of the respondents said that of the three times (pre-workout, during-workout, and post-workout) performance data they received from the device, immediate or “period data” was the most valuable type.
Backed by years of scientific research and numerous technology patents, Mojo Lens superimposes images, symbols and text on the user’s natural field of view without obstructing their line of sight, limiting mobility, or hindering social interaction.Mojo calls this experience “invisible computing.”
In addition to the sports and wearable technology markets, Mojo also plans to use its products early to help people with vision impairments by using enhanced image overlays.
Mojo Vision is actively working with the U.S. Food and Drug Administration (FDA) through its Breakthrough Devices Program, a voluntary program to provide safe and timely medical devices to help treat irreversibly debilitating diseases or conditions.
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Post time: May-03-2022
