Facebook has agreed to acquire CTRL-labs

Facebook has agreed to acquire CTRL-labs, a US start-up that is developing technology to let people control electronic devices with their brains… Facebook will pay about $1 billion… the same price it paid for photo sharing app Instagram in 2012… New York-based CTRL-labs is among a growing number of outfits using neurotechnology to try and connect human thoughts to computers. The industry is in its infancy but the hype is palpable. In July, Neuralink, the company founded by Tesla chief executive Elon Musk in 2016, talked of human “symbiosis with artificial intelligence”… Founded in 2015, CTRL-labs differs from others in that it only uses non-invasive technologies that do not require surgery, focusing on the development of a wristband that reads electrical signals from a user’s brain to map and move a digital arm on a screen, even if the person is not moving. CTRL-labs has raised $67 million over three funding rounds, the latest of which was $28 million in February this year, according to Crunchbase. Investors include GV, the venture capital arm of Alphabet, and Amazon’s Alexa Fund. It will now become part of Facebook’s Reality Labs team, the researchers and engineers at Facebook tasked with developing AR glasses…

Hannah Murphy and Patrick McGee