vr industry Archives

Mojo Vision announced it’s secured a $75 million Series B Prime investment round, which the company says will support the commercialization of its powerful and flexible micro-LED platform for XR glasses.

The round was led by Vanedge Capital, and included investments from current shareholders Edge Venture Capital, New Enterprise Associates (NEA), Fusion Fund, Knollwood Capital, Dolby Family Ventures, and Khosla Ventures, and new shareholders, including imec.xpand, Keymaker, Ohio Innovation Fund, and Hyperlink Ventures.

This brings the company’s overall funding to $345 million, according to Crunch Base data; Mojo Vision’s penultimate round came in late 2023, amounting to $43.5 million.

While previously geared towards producing smart contact lenses, Mojo Vision is now all about the underlying micro-LED technology that initially generated headlines back in 2022.

At the time, it was expected Mojo Vision would commercialize a contact lens with embedded micro-LED display, however in April 2023 the company announced it was pivoting.

Founded in 2015, Mojo Vision is now building a type of micro-LED technology that allows the mass-production of them onto silicon chips, combining advanced components like gallium nitride (GaN) on silicon emitters, quantum dots, and micro-lens arrays. According to Mojo Vision, this makes the displays very bright, very small, and energy-efficient.

“Through our micro-LED technology development, Mojo has made significant advancements in establishing breakthrough performance standards while laying the foundation for micro-LEDs as a platform for AI innovation in large market segments,” said Nikhil Balram, CEO of Mojo Vision. “This oversubscribed funding round and strong industry support mark a new phase in the design and production of our next-generation micro-LED platform. The company is on an accelerated path to commercialize micro-LED applications that can power AI.”

The company says it’s targeting the micro-LED platform to build displays for XR glasses, but also large format displays and optical interconnects for AI infrastructure.

Australian immersive training technology company xReality Group announced its subsidiary Operator XR has secured a contract with the Texas Department of Public Safety (Texas DPS) worth up to AUD $5.71 million (~$3.7 million USD), which will see the rollout of it VR police training system across the state.

According to a press statement, Operator XR’s OP-2 system enables immersive, scenario-based training designed to improve tactical decision-making, de-escalation techniques, multi-officer coordination, and mission planning.

Texas DPS, one of the largest law enforcement agencies in the U.S. serving 30 million residents, is slated to use the system to enhance officer readiness and safety through more frequent and realistic training experiences.

xReality Group CEO Wayne Jones described the deal as a “strategic milestone,” citing Texas DPS’s high profile as a key reference point for further expansion into other state agencies. “This partnership reinforces our U.S. growth strategy and validates the OP-2 platform for large-scale deployment,” Jones said.

The initial portion of the deal, worth AUD $4.3 million ($2.8 million USD), is said to cover delivery of OP-2 hardware and software, along with onboarding and two years of technical support—slated to start in Q2 2026.

The contract includes optional support services for an additional three years, bringing the potential total value to AUD $5.71 million (~$3.7 million USD).

This follows a recent $2.1 million AUD (~$1.4 million USD) ‘Industry Growth Program’ grant by the Australian Government last month to accelerate the AI development roadmap for its Operator XR tactical training platform.

The funding is earmarked to support enhancements such as real-time feedback, automated scenario generation, expanded manufacturing, and global certification over the next 24 months.

Mojo Vision Secures $75M Investment to Commercialize Micro-LED Displays for XR Glasses

Operator XR Secures $3.7M VR Training Contract with Texas Department of Public Safety