Meta acquired AI-wearables startup Limitless, the maker of a pendant-style device that records and transcribes real-world conversations. The social media giant Meta buying wearable startup in an effort to build AI-enabled consumer hardware.
On a blog post Limitless co-founder and CEO Dan Siroker said, “Meta recently announced a new vision to bring personal superintelligence to everyone and a key part of that vision is building incredible AI-enabled wearables. We share this vision and we’ll be joining Meta to help bring our shared vision to life,”
No financial details on the acquisition have been disclosed by Limitless.
Meta Buys Wearable Startup Limitless
In a strategy to push into the wearable market Meta is acquiring Limitless.
A Meta spokesperson said, “We’re excited that Limitless will be joining Meta to help accelerate our work to build AI-enabled wearables”.
Meta Wearable Market Strategy
Earlier, Meta hired Apple’s design executive Alan Dye, a move seen as its desire to sharpen focus on next-generation devices. The strategy for acquisition by Meta is to use Limitless’ technical capabilities as part of its development of next-generation AI-enabled wearables.
Meta currently is in partnership with EssilorLuxottica, the company that makes Ray-Ban to create AI-powered smart glasses.
Limitless AI Wearable
The AI- wearable startup Limitless makes a small, AI-powered pendant that records conversations and generate summaries. There has been a growth in the world of AI wearables.
Earlier Rewind, Limitless makes a wearable “pendant” that clips to clothing or a lanyard.
Limitless has raised a total of $33 million from investors including venture capital powerhouse Andreessen Horowitz and OpenAI co-founders Sam Altman and Greg Brockman, according to Pitchbook.
The startup was valued at $368 million during its latest funding round in 2023, Pitchbook noted.
Meta’s Acquisitions
The deal to buy Limitless appears to be the first major acquisition by Meta since it finalized its buyout of virtual reality firm Within Unlimited in 2023, after a court rejected an attempt by US regulators to block the deal over competition concerns.
The courtroom loss was seen as a setback for then-FTC head Lina Khan, who was an advocate of imposing tougher scrutiny on Big Tech companies on Big Tech companies on antitrust matters.
Limitless will stop selling its pendant to new customers but continue to support the existing customers though they will have to accept revised privacy terms to continue and maintain service.
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