CTRL-labs Secures $28M Series B Led by Google’s GV to Advance Neural Interface Technology

VCBeat (WeChat Official Account: vcbeat) has learned that neural interface startup CTRL-labs announced the completion of a $28 million Series B financing round on February 22. The round was led by GV, the venture capital arm of Google (NASDAQ: GOOG), with participation from the Amazon Alexa Fund, Lux Capital, Spark Capital, Matrix Partners, Breyer Capital, and Fuel Capital. The proceeds will be primarily used to develop and refine neural interface technology.

CTRL-labs, founded in 2017 and headquartered in New York State, USA, is a neurointerface startup. The company focuses on the field of neurointerface technology. It is reported that neurointerface technology includes gesture recognition, eye tracking, and brain-control interfaces. This technology enables more convenient dynamic recognition through spatial computing paradigms, meeting the needs of AR platforms and other emerging technologies such as robotics. This technology is expected to play an important role in related fields such as clinical research and automated diagnosis.

According to foreign media reports, Ctrl-Labs is developing a 16-electrode wireless electromyography (EMG) device called the Ctrl-kit, which measures electrical potential changes in muscle pulses from the brain to the hand muscles. Through advanced algorithms, the system can identify abnormal neural impulses in the human body and issue early warnings. On the software side, the CTRL-kit provides developers with an SDK compatible with Unity, JavaScript, and APIs, supporting hand pose reconstruction and hand strength measurement.

“Ctrl-labs’ research and development of neural interfaces will enable developers to achieve better experiences across various applications. Ctrl-labs has assembled a team of top neuroscientists, engineers, and developers with deep technical expertise, who have created human-computer interaction technologies unlike anything seen before,” said Erik Nordlander, Partner at GV.

Google’s investment in CTRL-labs underscores its emphasis on next-generation neural interface technology. Notably, as a world-class tech giant, Google is also developing radar-based gesture detection technology under Project Soli. Undoubtedly, neural interface technology will become one of the key entry tickets for tech companies vying for dominance in the future technology market.

“Like many developers and creators, we are not yet satisfied with existing technologies. As is well known, technology is constantly evolving. Ctrl-Labs is willing and actively working to become a driving force behind technological progress. Our goal in developing the Ctrl-kit is to provide the tools necessary for the most ambitious technology enterprises and healthcare companies in the industry to reimagine the relationship between humans and machines,” said Thomas Reardon, CEO of Ctrl-Labs, in a prepared statement.

Amazon Alexa Fund was established in 2015. Backed by a $100 million investment from Amazon, the fund helps the company identify promising businesses and products worldwide. The Alexa Fund is more than just an investment vehicle; it comprises three components: a venture capital-style investment arm, a corporate accelerator, and a university scholarship program.

Lux Capital, established in 2000, is an early-stage venture capital firm primarily focused on life sciences-related fields.

Spark Capital, founded in 2005, is a venture capital firm primarily investing in internet and mobile internet-related sectors, including advertising and payments, commerce and services, content and media, financial services, hardware and infrastructure, as well as mobile internet and social networking.

Matrix Partners (Jingwei Venture Capital), founded in 1977 and headquartered in Boston, Massachusetts, is one of the oldest venture capital firms in the United States. The firm specializes in investing in early-stage startups and is regarded alongside Sequoia Capital and KPCB as a top-tier investor in the U.S. Since its inception, Matrix Partners (Jingwei Venture Capital) has supported numerous successful companies, including Apple Computer, FedEx, and SanDisk.

Breyer Capital is a global equity investment firm primarily focused on companies in the TMT, education, and retail sectors worldwide.

Fuel Capital is a venture capital fund based in San Francisco, primarily investing in sectors such as consumer goods, cloud services, and infrastructure.

(Compiled by Hu Xuan)