Another company has stopped working on smart contact lenses

Picture of someone holding a mock version of the Mojo lens in their palm.
The company showed off its tech at CES 2020. | Image: The Verge

One of the companies working on smart contact lenses is calling the project off. On Friday, Mojo Vision announced that it’s going to “pivot its business and focus its resources” on the MicroLED display tech it built during its work on the Mojo Lens (via Axios). Unfortunately, part of the pivot includes laying off around 75 percent of its workers as it restructures, according to a news post from the company’s CEO, Drew Perkins. The company had around 150 employees, according to data from PitchBook and LinkedIn.

The post says the reason for the change is that Mojo hasn’t been able to keep raising money to work on its smart contact lens. “The slumping global economy, extremely tight capital markets, and the yet-to-be proven market potential…

Continue reading…