In the single biggest tech funding round raised in the Waterloo Region since Geosign raised $160M in 2007, Thalmic Labs announced today US$120 million in series-B funding, just three years after launching the Myo armband.
The funding came from Intel Capital, the Amazon Alexa Fund and Fidelity Investments Canada, and Thalmic Labs plans to use the money to double the size of its workforce in the coming months.
“Superpowers, here we come,” wrote Thalmic Labs co-founder and CEO Stephen Lake on Medium, reiterating the company’s long goal of giving people superpowers by blurring the line between humans and digital technology.
The Myo armband, Thalmic Labs’ first product released to the public in 2014, has now been used by tens of thousands of customers in over 150 countries, with use-cases as diverse as control for prosthetics to gesture-based inputs for sign language.
The news closely follows another exciting announcement from the company: the addition of 15-year Samsung veteran Tara Kriese as its Chief Marketing Officer.
Mike Galbraith, Chief Financial Officer at Thalmic Labs, said that this funding comes at a time when the company is “working on really exciting things that we are proud of and we will see in the next year.”
