Thalmic Labs scores $120 mln in Intel Capital-led Series B round
Waterloo-based Thalmic Labs Inc, maker of the Myo gesture control armband, has raised US$120 million in a Series B financing. The round, one of the largest on record in Canada's venture capital market, was led by Intel Capital, the Amazon Alexa Fund and Fidelity Investments Canada. Existing backers Spark Capital, First Round Capital and iNovia Capital also invested. Founded in 2012 by Stephen Lake, Matthew Bailey and Aaron Grant, Thalmic developed Myo as a wearable device to read the electrical activity of muscles to control technology with gestures and motion. It plans to use the funds raised to fuel continued growth and develop more human-computer interaction products.
19 September 2016•3 mins read
