WATERLOO, ON--(Marketwired - Sep 19, 2016) - Thalmic Labs, pioneers in the future of human-computer interaction and makers of the Myo gesture control armband, today announces $120M USD in funding led by Intel Capital, the Amazon Alexa Fund and Fidelity Investments Canada.
Founded by University of Waterloo classmates Stephen Lake, Matthew Bailey and Aaron Grant in 2012, the company launched its first product, the Myo armband, in 2013. Myo reads the electrical activity of your muscles to control technology with gestures and motion, hands-free. Since launch, the product has been used in areas such as entertainment, virtual reality, prosthetics and even sign language.
"We founded Thalmic knowing that in order to produce truly breakthrough products, we'd have to invent entirely new underlying technologies to bring them to life," said Stephen Lake, Co-founder and CEO of Thalmic Labs. "This investment will be used to fuel continued growth and development of future products already in the pipeline, and will help us realize our vision of a new era of computing, where the real and digital worlds will blend seamlessly."
"In the three years since Intel Capital first invested in Thalmic, they've made tremendous breakthroughs in technology," said Josh Walden, Senior Vice President and General Manager of the New Technology Group at Intel Corp. "These innovations augment Intel's strategy for wearable technology and align with our vision to bring new and exciting experiences to users. We're excited to continue working together."
"Thalmic is pushing the boundaries of what we thought possible with hands-free technology," said Steve Rabuchin, Vice President, Alexa. "We're excited to invest in Thalmic to help continue their innovative work and look forward to exploring future product integrations with Alexa."
Additional participants in the financing round include Spark Capital, First Round Capital, and iNovia.
Thalmic Labs currently employs over 100 engineers, researchers, and creators at its Waterloo headquarters and will continue to grow the team aggressively in both Waterloo and San Francisco to accelerate the development of new technologies and products.
To sign up for more information as it becomes available, visit www.thalmic.com.
About Thalmic Labs
Thalmic Labs is pioneering new ways of interacting with digital devices. With a mission to merge people and technology, the company is revolutionizing how we will interact with technology in the future. Its first product, the Myo™ armband, measures electrical activity in muscles to wirelessly control computers, phones, and other digital technologies.
Founded in 2012 by three graduates of the University of Waterloo's mechatronics engineering program (Stephen Lake, Matthew Bailey, Aaron Grant), Thalmic Labs has grown to a world-leading team of engineers, researchers, and creators committed to building the future of wearable technology. Thalmic Labs has raised over $140M USD to date from investors including Spark Capital, Intel Capital, Y Combinator and others.
About Intel Capital
Intel Capital, Intel's strategic investment and M&A organization, backs innovative startups targeting computing and smart devices, cloud, datacenter, security, the Internet of Things, wearable and robotic technologies and semiconductor manufacturing. Since 1991, Intel Capital has invested US$11.7 billion in 1,457 companies in 57 countries, and 605 portfolio companies have gone public or been acquired. Through its business development programs, Intel Capital curates thousands of introductions each year between its portfolio executives and Intel's customers and partners in the Global 2000. For more information on what makes Intel Capital one of the world's most powerful venture capital firms, visit www.intelcapital.com or follow @Intelcapital.