ctrl-labs, a company building mind-reading wristband, gets acquired by facebook for around $1 billion

CTRL-labs, a Company Building Mind-Reading Wristband, Gets Acquired by Facebook For Around $1 Billion

Technology

CTRL-labs is a neural interface company that is developing a wristband that allows your brain to transmit signals to the computer. The company was recently acquired by social network giant Facebook, for around $1 billion. Its another most significant investment that was made Facebook after it purchased Oculus VR in 2014 for an amount of $2 billion. Facebook is looking forward to disrupting the hardware industry. CTRL-labs was founded by Thomas Reardon, who is a neuroscientist and creator of Internet Explorer.

The official announcement of this deal was made on the personal page of Andrew Bosworth, who’s head of AR/VR of Facebook. He posted, “will be joining our Facebook Reality Labs team where we hope to build this kind of technology, at scale, and get it into consumer products faster.” The company has raised $67 million in funding since its inception. The company also made purchases of some patents this year that include Myo armband, a device that lets you control motion and gesture, developed by North. The armband developed by North measure EEG, this translates your muscle motions into electric inputs for software.

Head of AR/VR at Facebook, Bosworth believes that this acquisition of new technologies by CTRL-labs will allow its wristbands to connect the human brain with computers. You won’t need to rely on any physical controller to give any input to the machines. You don’t have to use mouse-keyboard, touchpad, or any other device to give commands to the computer. A simple gesture can do it for you. Currently, human-computer interaction industry is a hot topic amongst futurists and companies. Facebook has already announced that it is building a couple of AR glasses, one that closely resembles Google Glass and another one like Snap Spectacle. Bosworth believes that this technology will make innovative products that are futuristic for us.

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