California-based startup Mojo Vision has raised $58 million in additional funding to continue development of its secret augmented reality (AR) platform.
Google’s Gradient Ventures and Advantech Capital were among the strategic and venture investors that participated in the funding round. Mojo Vision has so far raised more than $108 million, including $50 million+ in November 2018.
For what, everyone outside of the startup and its investment partners remains unclear.
Mojo Vision said it’s developing the underlying technology and interfaces to create an AR platform conceived around the future of computing and communication that the startup calls ‘invisible computing’, which is designed to give people anytime and anywhere access to vital information, without the intrusion of today’s devices.
The participation of Gradient Ventures, Google’s artificial intelligence (AI)-focused venture fund, suggests that the application of machine learning may play a part in Mojo Vision’s platform.
“The potential for artificial intelligence to provide access to information effortlessly and contextually without distraction is compelling,” explained Anna Patterson, managing partner of Gradient Ventures. “Gradient’s investment in Mojo Vision represents our keen interest in using AI to look beyond today’s mobile form factors and develop new ways to connect the world to important information.”
Mojo used Advantech Capital’s participation to highlight the secret platform’s potential application in health and wellness.
“Advantech Capital is excited to invest in such a bold new augmented reality platform that enables innovative applications for health and wellness,” said Benjamin Yumin Qiu, partner and co-head of healthcare investments at Advantech Capital. “The AR industry has seen a number of recent breakthroughs and adoption by Fortune 500 companies, and the talented team at Mojo Vision is looking beyond these advances to build something that today can only be imagined.”
All Drew Perkins, chief executive officer of Mojo Vision, would say is: “Mojo Vision is taking on a big challenge—to rethink how people receive and share information in a way that is immediate and relevant, without diverting their attention.”
“With this new round of funding, we’re excited to have visionary companies and investors support our ongoing development and technology milestones that are essential to making Invisible Computing a reality. In addition to advancing critical technologies, this capital moves Mojo closer to initial customer pilots and strategic partnerships.”
HP Tech Ventures, Motorola Solutions Venture Capital, Bold Capital Partners, LG Electronics, Kakao Ventures and Stanford StartX also participated in the funding round.