Facebook Will Acquire Ctrl-Labs, A Startup That Is Building A Neural Armband
Date: 24 – September – 2019
Facebook will buy CTRL–Labs for an undisclosed price, according to people familiar with the deal it’s between $500 million to $1 Billion USD, but what exactly is Facebook about to acquire?
CTRL–Labs is a technology startup that is building a neural armband that measures the neural activity of the person who wears it and determine the movement that the subject is thinking about, even without the need of physical movement, in other words, the armband reads the person’s neural impulses and translate them into a digital signal, the goal of the startup is to let people control a digital avatar using their thoughts.
Andrew Bosworth, Facebook’s head of Augmented Reality and Virtual Reality, announced the deal on a post and wrote that “Technology like this has the potential to open up new creative possibilities and reimagine 19th century inventions in a 21st century world.” and added “It can change the way we connect.”
Lately, Facebook has been pushing harder on the development and adoption of Augmented Reality, only this week they announced that they are rolling out a new series of “Interactive Ads” one of which is an AR Ad.
CTRL-Labs has raised $67 million, according to Crunchbase, and has high-profile investors, like Google’s GV, Amazon’s Alexa Fund, Founders Fund, Matrix Partners, Breyer Capital, Spark Capital among others.
The CTRL-Labs’s employees will join Facebook’s team, which works on AR and VR products.