A source told TechCrunch that maker of a headband that can sense brainwaves InteraXon was approached by Google to talk about a potential acquisition. However, the startup was not interested in selling itself. The source said it was Google Co-Founder Sergey Brin who got in touch with InteraXon Co-Founder and Chief Executive Officer Ariel Garten about the search giant's interest in the company, the report said.
The Toronto-based startup makes Muse, a headset comprised of six sensors that can track brainwaves which can be utilized with software for brain exercise training. It is also a development platform to build apps that can use the power of thought to control anything, whether it's pouring beer remotely or turning the TV on.
TechCrunch reported that a possible reason for the lack of interest in the acquisition proposal could be found on InteraXon's profile on the Financial Post. Co-Founder and Chief Executive Officer Ariel Garten told the paper that she was dedicated to the project for the long-term, with the goal of establishing a business valued at $500 million in five years. So far, InteraXon has a fundraising total of $7.2 million, securing a $6 million in its Series A round from investors Horizon, OMERS Ventures, Ashton Kutcher's A-Grade, Felicis and others. Before that, it also got $1.2 million from ff Venture Capital and other backers. Its crowdfunding initiative for the Muse headband gathered close to $300,000 when it closed in December 2013, the report said.
In an interview with VentureBeat on the matter, Endpoint Technologies Associates Technology Analyst Roger Kay said it was not surprising that InterAxon turned down Google. He said that the startup has already worked hard to lessen the risk that their technology will work. Until such time that InterAxon will be ready to bring the product to market then Google's approach won't be that useful.
Join the Conversation