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Mojo Vision has raised 45 million to adapt its augmented reality contact lenses to work with sports and fitness applications.
Mojo Vision, based in Saratoga, California, bills itself as an invisible computing company. It is announcing strategic partnerships with sports and fitness brands to collaborate on next-generation user experiences combining augmented reality, wearable technology and personal performance data.
The companies will work together to find unique ways to improve data access and enhance athletes’ performance during sporting activities using Mojo’s smart contact lens technology, Mojo lenses.
Additional funds include investments from Amazon Alexa Fund, PTC, Edge Investments, Hijjo Partners and others. Current investors include NEA, Liberty Global Ventures, Advantech Capital, AME Cloud Ventures, Dolby Family Ventures, Motorola Solutions and Open Field Capital.
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Mojo Vision sees an opportunity in the wearable market to deliver performance data and real-time statistics to data conscious players such as runners, cyclists, gym users, golfers and more through Mojo Lens’ intuitive hands-free, eye-controlled user interface.
Mojo Vision is involved in a number of strategic partnerships with fitness brands to meet the unmet performance data needs of athletes and sports enthusiasts. The company’s initial partnerships include Adidas Running (running / training), Trailforks (cycling, hiking / outdoors), Wearable X (yoga), Slopes (snow sports), and 18 birdies (golf).
Through this strategic partnership and the market expertise provided by the companies, Mojo Vision will explore additional smart contact lens interfaces and experiences to understand and improve data delivery for athletes with different skill levels and abilities.
“We are making significant progress in developing our smart contact lens technology, and we continue to research and identify new market potential for this groundbreaking platform,” said Steve Sinclair, senior vice president of product and marketing at Mojo Vision. “Our partnerships with these leading brands will give us valuable insights into user behavior in the sports and fitness market. The goal of this collaboration is to deliver a completely new form factor to athletes with more accessible and useful performance data. [at] That moment, that moment, that moment. “
Recent research by the International Data Corporation (IDC) shows that global wearable shipments increased by 32.3% year-on-year from 2020 to 2021. This significant and steady growth in the wearable tech market has been led by companies that continue to refine and release fitness trackers. Smartwatches, smartphone apps and other wearable devices are primarily aimed at improving the user experience for sports and fitness enthusiasts. However, new data shows that there may be gaps between the type of data that athletes and fitness enthusiasts want and the accessibility of that data.
In a new survey of more than 1,300 athletes, Mojo Vision found that athletes rely heavily on wearable data and are expressing the need for different ways to deliver data. Studies show that about three out of four (74%) people normally or always use wearables to track performance data during their workout or activity.
However, even though today’s athletes rely on wearable tech, there is a significant appetite for devices that can better deliver data access to real-time data about their performance – 83% of people said they rely on data in real-time or at the moment. Will benefit. .
In addition, half (from the three times before, during and after their workout) they receive performance data from their devices, in-the-moment or “during data” was the most valuable type.
Mojo Lens, backed by years of scientific research and numerous technology patents, overlays images, symbols, and text without disturbing users’ perceptions, restricting mobility, or disrupting social interactions. Mojo calls this experience Invisible Computing.
In addition to the sports and wearable tech market, Mojo is planning the initial application of its product to help people struggling with vision loss using Advanced Image Overlay.
Mojo Vision is actively working with the US Food and Drug Administration (FDA) through its Breakthrough Devices program, a voluntary program designed to provide safe and timely access to medical devices that help treat irreversible debilitating diseases or conditions. Can.
These new investments bring Mojo Vision’s total funding to $ 205 million.
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