In January 2023, augmented reality hardware startup Mojo Vision announced a major restructuring, laying off 75% of its workforce. The California-based company, which had been developing AR smart contact lenses, cited significant challenges in raising capital due to economic headwinds and an unproven market for advanced AR products. As a result, production of the Mojo Lens was put on hold. The company pivoted to focus its remaining resources on the underlying micro-LED display technology, which it believes has broad disruptive potential. This drastic staff reduction impacted roles across the startup as it decelerated its flagship project.
