Snap, which is actively exploring the AR space, today announced the acquisition of neurotech startup NextMind in preparation for future AR glasses.
NextMind is a Paris-based neurotech startup known for its $399 Brain-Computer Interface Development Kit (BCI). According to PitchBook data, NextMind has raised a total of $4.5 million to date, with a final valuation of about $13 million. In the future, NextMind will join the Snap Lab division and work on AR.
Snap did not elaborate on the terms or price of the acquisition of NextMind, which will remain in Paris while helping the Snap Lab team. According to The Nerge, NextMind will stop producing BCI, and its brain-computer interface development kit will allow users to control any device in the PC and IoT, such as TVs, music and games. NextMind can be used alone or applied to AR/VR headsets.
It is reported that Snap has been actively laying out AR-related fields in recent years, last May, Snap spent more than $500 million to acquire AR waveguide startup WaveOptics, and in January this year acquired LCOS manufacturer Composite Photonics.