Wearable know-how, together with sensible digital gadgets in clothes or implanted in a consumer’s physique, is a rising market first spurred by health monitoring and an increasing number of now by well being issues. The market is predicted to succeed in $17.8 billion in 2021, with a penetration of 5.3%, based on estimates from Statista, researchers providing market and shopper information.
Mojo Imaginative and prescient is an instance of an organization with an revolutionary wearable know-how targeted on eyesight, that it’s working to get to the market, together with by getting FDA approval as a medical machine. Steve Sinclair, SVP of Product and Advertising, Mojo Imaginative and prescient, responded by e mail to queries from AI Tendencies as a part of our startup protection. Listed below are his responses:
AI Tendencies: Describe your staff
Steve Sinclair: Mojo Imaginative and prescient is led by a staff of Silicon Valley veterans from firms together with Apple, Amazon, Samsung, HP, Microsoft, Google, Motorola and others. Collectively, the senior staff at Mojo holds greater than 100 patents and has developed quite a few revolutionary applied sciences.
What enterprise drawback are you making an attempt to unravel?
Mojo Imaginative and prescient is working to construct the world’s first true sensible contact lens, Mojo Lens. The objective of Mojo Lens is to offer folks with fast entry to info that they want with out the visible distraction of a tool. We imagine that info needs to be there while you want or need it, after which disappear while you don’t. Whether or not it’s remembering a multi-step process, monitoring your coronary heart fee on a run, getting strolling instructions from a gathering to your lodge, checking on your home remotely, or seeing in a darkish storage, we envision folks utilizing this most after they want info or solutions however wish to keep current and “eyes up” on the planet round them.
How does your resolution handle the issue?
Mojo Lens has a built-in show that provides folks the helpful and well timed info they need with out forcing them to look down at a display screen or shedding give attention to the folks and the world round them. Mojo calls this eyes-up expertise Invisible Computing, a platform that permits info to be instantaneous, unobtrusive and out there hands-free, and can enable folks to work together with one another extra freely and genuinely.
Mojo Lens incorporates various breakthroughs and proprietary applied sciences, together with the smallest and densest dynamic show ever made, an extremely power-efficient picture sensor constructed for pc imaginative and prescient, a high-bandwidth, low-power wi-fi radio, and movement sensors for exceptionally exact eye monitoring and picture stabilization.
How are you attending to the market?
Mojo intends for the lens to broaden availability worldwide over time. In america, contact lenses are sometimes a Class II medical machine regulated by the FDA. Mojo is working with the FDA by means of its Breakthrough System Program to make sure we adjust to all security rules and requirements. Our objective is to give attention to FDA certification within the US first after which broaden to different markets, however the actual timeline is determined by regulatory approval.
Do you have got any customers or prospects?
We in the end count on this product to learn customers, however one of many early functions being developed for Mojo Lens helps folks with impaired imaginative and prescient higher navigate the world round them. We’re working with Vista Middle for the Blind and Visually Impaired and have been accepted into the FDA’s Breakthrough System Program, which is able to assist us carry our resolution to market.
In parallel with our efforts round serving to folks with impaired imaginative and prescient, we additionally anticipate early adoption of Mojo Lens by “prosumer” sports activities fans that embrace know-how to observe and enhance their efficiency. Examples of those prosumers might embody athletes reminiscent of golfers, runners, cyclists, and skiers.
Mojo Lens has the potential for a lot of functions within the enterprise as properly. In industries like retail, customer support, and different affected person/customer-facing roles like healthcare and hospitality, entry to info is crucial, however private interactions and relationships are what they’re constructed on. By offering entry to real-time info in a heads up, hands-free kind issue, Mojo Lens can enormously enhance productiveness, improve high quality, and permit customers to construct relationships with out distracting gadgets in the way in which. Moreover, in roles that require compliance with technical or trade requirements, the Mojo Lens can present info to employees who want to finish duties precisely and safely.
Each milestone that the Mojo staff has crossed has been a serious breakthrough in physics and know-how. And we have fun each alongside the way in which. Our angle going into the founding of this firm is that there isn’t any drawback we will’t remedy—as lengthy because it doesn’t break the legal guidelines of physics.
One main milestone was when our CEO Drew Perkins grew to become the primary particular person to get fitted for and put on a prototype of Mojo Lens. Plenty of us gathered across the workplace to see his response of carrying the lenses. Think about having the ability to see augmented actuality photographs along with your eyes even when they’re closed! It was very thrilling for your complete staff.
How is the corporate funded?
To this point, we’ve been capable of elevate greater than $159M over 4 rounds of funding to develop our know-how. These embody investments from NEA, Shanda Group, Khosla Ventures, Advantech, Gradient Ventures, HP Tech Ventures, Motorola Options, LG Electronics, Liberty World, Fusion Fund, Struck Capital, Dolby Household Ventures, Motorola Options Enterprise Capital, Intellectus Companions, KDDI Open Innovation Fund, Numbase, InFocus Capital Companions and extra.
To be taught extra, go to Mojo Imaginative and prescient.