... The firm is stopping research and development (R&D) into its AR contact lens prototype due to a lack of capital. ...
"The slumping global economy, extremely tight capital markets, and the yet-to-be proven market potential for advanced AR products have all contributed to a situation where Mojo Vision has been unable to find additional private funding to continue its development of Mojo Lens.”
Due to the product cancellation, Mojo Vision is removing roughly 75 percent of its staff.
The layoffs come as Mojo Vison refocuses its direction towards MicroLED production for smart and immersive wearables. ...
See the full story here: https://www.xrtoday.com/augmented-reality/mojo-vision-cancels-ar-contact-lens/