CTRL-labs acquired by Facebook
CTRL-labs, the startup that’s working on a neural interface technology that uses an armband to capture just your thoughts and movements as digital signals, has agreed to be acquired by Facebook. While the terms of the transaction were not disclosed and the deal has yet to close, it has been reported that the transaction value is between $500M and $1B with Facebook indicating that the transaction was less than $1B. The deal was announced in a Facebook post by Facebook Vice President of AR/VR Andrew Bosworth.
“We know there are more natural, intuitive ways to interact with devices and technology. And we want to build them. The vision for this work (CTRL-labs) is a wristband that lets people control their devices as a natural extension of movement. Here’s how it’ll work: You have neurons in your spinal cord that send electrical signals to your hand muscles telling them to move in specific ways such as to click a mouse or press a button. The wristband will decode those signals and translate them into a digital signal your device can understand, empowering you with control over your digital life. It captures your intention so you can share a photo with a friend using an imperceptible movement or just by, well, intending to,” remarked Bosworth.
Selected investors in the round: Spark Capital, Lux Capital, Founders Fund, GV, Vulcan Capital
Founding year: 2015
Total funding raised: $67.0M
Time from founding to exit: 4.24 years
Full coverage: CTRL-labs acquired by Facebook
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