Thalmic Labs, a company founded by three Waterloo Engineering graduates, announced a series B raise of US $120 million today.
Leading the future of human-computer interaction with its Myo gesture control armband, the company has plans to further build out its workforce in Kitchener-Waterloo and San Francisco, and accelerate development of new technologies and products.
The investment was led by Intel Capital, the Amazon Alexa Fund and Fidelity Investments Canada.
Founders of Thalmic Labs from left to right: Stephen Lake, Aaron Grant and Matthew Bailey (Mechatronics '12).
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 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."
Read the news on Medium - published by Stephen Lake.
Thalmic Labs currently employs over 100 engineers, researchers, and creators at its Kitchener headquarters and will continue to grow the team aggressively in both Kitchener and San Francisco to accelerate the development of new technologies and products.