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<ul><li>The company raised $45 million in its <keyword id="45633" type="General" weightage="20" keywordseo="series" source="Orion">Series</keyword> B-1 round last year.</li><li>The company is now directing resources toward the continued development and commercialisation of world-class Micro-LED display technology.</li><li>The reduction represents approximately 75 per cent of the company's workforce.</li></ul> AR smart lens developer <keyword id="8574321" type="General" weightage="100" keywordseo="mojo-vision" source="Orion">Mojo Vision</keyword> has slashed 75 per cent of its workforce across a variety of departments and functions amid the deepening funding crunch. Mojo Vision CEO Drew Perkins said that the company has now decided to pivot its business and focus its resources on Mojo's Micro-LED technology. "With this shift in focus of our business comes a significant change in our organisational structure, and Mojo Vision has reduced staffing across a variety of departments and functions," Perkins said in a statement late on Friday. "The reduction represents approximately 75 per cent of the company's workforce," he added. The company raised $45 million in its Series B-1 round last year. Perkins, however, said that as they made important product development progress, Mojo faced significant challenges in raising 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 <keyword id="15993236" type="General" weightage="50" keywordseo="mojo-lens" source="Orion">Mojo Lens</keyword>," the CEO noted. The company is now directing resources toward the continued development and commercialisation of world-class Micro-LED display technology, "where we know there is significant near-term market potential". Developed as a critical component of Mojo Lens and first announced in 2019, the Mojo Vision 14K PPI Display is the smallest, densest dynamic display ever made. "The Micro-LED technology platform underlying it is powerful and flexible enough to serve a wide range of applications from next generation wearables all the way up to future televisions and video walls," said Perkins. "We believe Micro-LED will disrupt the entire $160 billion display industry and our unique technology puts us at the forefront of this disruption." SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/thelife/personalities/news/ar-rahman-unknown-facts-about-about-indian-composer-and-oscar-winner/articleshow/96793884.cms">AR Rahman can leave dinner midway if inspiration strikes &amp; other anecdotes about the reticent music maestro</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/foreign-institutional-investors-sell-shares-nearly-5000-crore-in-first-four-trading-days-of-2023/articleshow/96790974.cms">Foreign institutional investors sell nearly ₹5,000 crore worth equities in first four days of 2023</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/gautam-adani-will-be-in-the-hot-seat-on-rajat-sharmas-show-aap-ki-adalat-on-saturday/articleshow/96785740.cms">Gautam Adani will be in the hot seat on Rajat Sharma's show 'Aap Ki Adalat' on Saturday</a>

AR smart lens developer Mojo Vision lays off 75% of its workforce

<ul><li>The shift to digitization has opened up newer ways to content monetization.</li><li>Divyanshu Damani, Co-founder, <keyword id="10376921" type="UNKNOWN" weightage="20" keywordseo="TagMango">TagMango</keyword> shares some anticipated <keyword id="10508948" type="UNKNOWN" weightage="20" keywordseo="trends-in-2021">trends in 2021</keyword> that can pose as a new age creator’s guide to embark on a successful journey in the world of <keyword id="1746818" type="PERSON" weightage="20" keywordseo="Content-Creation">content creation</keyword>.</li></ul>Content consumption has risen by manifolds in India in a very short span of time. Increased smartphone use, affordable and extensive internet data availability, and the coronavirus outbreak have acted as a catalyst for this growing demand across genres: entertainment, gaming, news, and infotainment. This growing appetite for creative content consumption hence poses as a great monetization opportunity for content creators. However, this creator-led and focused monetization ecosystem was not that evolved about 6-8 months ago. Earlier being a creator meant - invitations to exclusive events, traveling to new places, trying products and services before they hit the market. There were umpteen opportunities to earn money via brand collaborations. Cut to the pandemic, the restrictions limited these opportunities - digital events, strict restrictions on travel, brands shutting down products/categories, or delaying market launches. So, how did this challenge turn into an opportunity? The shift to digitization has opened up newer ways to content monetization. Content commerce, a current phenomenon in India, has today become brand agnostic giving aspiring content creators an opportunity to become entrepreneurs as opposed to a time when these opportunities were reserved for only category A creators. The year 2021 looks at a new format and development in the creator space where platforms like ClubHouse are rapidly becoming famous and a go-to platform for quality content creation. The scenario here in India is also picking up, to come closer to having platforms that offer exclusive, personalized and targeted content for specific users. Content creators have slowly started exploring content formats like podcast-style conversations, panel discussions, closed group networking, video and audio chats to offer content that is more personalized than it was earlier. Use of platforms that let creators have the advantage of making multiple chat rooms, so as to reach out to smaller audiences that are all looking for similar content. This streamlined way of reaching out with relevant content is going to shape up the year and gradually lead to strengthened content generation and increasing content monetization platforms and tools. Listed down below are some anticipated trends in 2021 that can pose as a new age creator’s guide to embark on a successful journey in the world of content creation: <ul><li><cmsannotation type="cmsannotation" annotationid="Rise of Micro, Nano Influencers and creators" text="Rise of Micro, Nano Influencers and creators">Rise of Micro, Nano Influencers and creators</cmsannotation></li></ul>The year 2021 is all set to witness a massive rise of macro and nano creators. The essential factors pertaining to this growth are the high rates of engagement, credibility, and low-cost increment. These factors are most relevant in the current scenario where most brands are looking at slicing budgets. According to a 2019 report by Fohr, micro-influencers, and creators have the highest engagement rates averaging at 7% on their feed posts. <ul><li><cmsannotation type="cmsannotation" annotationid="Video Content will continue to rule the industry" text="Video Content will continue to rule the industry">Video Content will continue to rule the industry</cmsannotation></li></ul>The rise of video content continues to be an on-going trend in the marketing space. However, with the introduction of Instagram reels and the growing popularity of apps like Mojo, MX Takatak, and Triller, it is expected to be more creative and collaborative than ever before. Video content keeps the viewer more engaged and a stronger authenticity makes people feel a stronger connection and builds engagement. Identify your niche and the right consumer-platform mix for your content offerings. Nothing works better than consumer engagement which can ultimately drive loyalty. <ul><li><cmsannotation type="cmsannotation" annotationid="The rise in Vernacular content and creators" text="The rise in Vernacular content and creators">The rise in Vernacular content and creators</cmsannotation></li></ul>The familiarity of language helps build a better connection and also seeds relatability, making fans connect with creators in shared areas of interest and sentiments. Regional creators can understand the audience better and adapt the content to what would appeal best, building effective campaigns. Moreover, with the deep penetration of smartphones and now available internet access in Bharat (Tier II &amp; Tier III cities), there exists a huge need-gap for vernacular content and creators. For these reasons, brands are roping in creators from specific regions or small-towns. As per a report by <a href="https://inc42.com/datalab/the-business-opportunity-in-the-vernacular-content-market-of-india/">DataLabs</a>, it is anticipated that the vernacular content market in India stands at a worth of $53 billion <ul><li><cmsannotation type="cmsannotation" annotationid="Importance of Deeper-connection and value-driven content" text="Importance of Deeper-connection and value-driven content">Importance of Deeper-connection and value-driven content</cmsannotation></li></ul>The year 2021 will be all about creating content with a relevant context. The pandemic taught people to be grateful for a ton of things we took for granted. Content creators that worked in their personality, journey, and experience in their content while being entertaining at the same time built a very strong fanbase. One can expect brands to also value quality engagement and communities more when predicting ROI than a high follower count. <ul><li><cmsannotation type="cmsannotation" annotationid="Rise of New Social Platforms and creators tool" text="Rise of New Social Platforms and creators tool">Rise of New Social Platforms and creators tool</cmsannotation></li></ul>Last year, new platforms and tools were witnessed in the creator ecosystem empowering them to create and share content with more independence. 2021 is expected to bring in more innovation in this space as the market is flooded with new platform launches catering to not just metros but small town Bharat as well. Newer creator focused models are coming into the picture that are looking at scaling up the revenue for creators by ways of having them leverage opportunities and directly monetize content curated for audiences. <ul><li><cmsannotation type="cmsannotation" annotationid="Brands will merge content marketing with influencer/creator marketing" text="Brands will merge content marketing with influencer/creator marketing">Brands will merge content marketing with influencer/creator marketing</cmsannotation></li></ul><keyword id="2540701" type="PERSON" weightage="20" keywordseo="Influencer-marketing">Influencer marketing</keyword> is going to be a game-changer in the coming times. 2020 gave a platform to several new content creators and brands also didn’t shy away from leveraging their skill and popularity to their advantage. One of the massive trends that we can expect to see in 2021 is how brands will merge content marketing with influencer marketing and social media. They will focus more on finding and collaborating with creators who share the same vision and build long-term associations. <ul><li><cmsannotation type="cmsannotation" annotationid="Streaming will set the theme for 2021" text="Streaming will set the theme for 2021">Streaming will set the theme for 2021- </cmsannotation></li></ul>Streaming was on the rise in 2020 with people opting to stream videos, content, and games for longer than ever before. The last few months have seen massive growth and further potential for quality content. Samay Raina is a shining example of this trend, who started with his independent YouTube channel that focused on making chess fun and entertaining for the masses. With this move, he unlocked a huge following in the country and reignited the audience’s love for playing and watching chess videos at a time when they were starved for at-home entertainment avenues. On a separate note, his timing also couldn’t have been better, coinciding with the release of international hit, Queen’s Gambit. Similarly, Tanmay Bhatt, leveraged this time to make funny and quirky videos where he reviews apps, challenges and that in turn has turned out to be a great entertainer for the masses. The year 2021 will see the further emergence of quality streamers. Podcasts will also become the go-to platform for content creators with a niche audience base interested in a specific domain. Micro- creators will emerge from smaller towns who might not enjoy a huge following but will be specialized in catering to a segment of the audience. 2021 will definitely be an interesting year in history for the content creators ecosystem and certainly unfold at a fast pace. One will need to keep up and keep a constant and keen eye to make it big.

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AR smart lens developer Mojo Vision lays off 75% of its workforce

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A creator's guide to a successful journey in 2021

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