Thalmic Labs Raises $14.5 Million Series A Round

by Techvibes NewsDesk

Thalmic Labs has raised $14.5 million, the largest Series A round raised by any startup after going through Silicon Valley's Y Combinator program.

Thalmic Labs, which was raised in the VeloCity Garage at the Communitech Hub in Waterloo, is the maker of MYO, a wearable gesture control device.

The funding round was led by  Spark Capital and Intel Capital.

“The funding will be used to fuel continued growth, further product development of MYO, and develop future products and technologies,” says Stephen Lake, CEO and cofounder of Thalmic. “This new investment will help us realize our vision of a new era of computing, where the lines between humans and digital technology become increasingly blurred.”

"We are at the beginning of a revolution in how we interface with computers, and the team at Thalmic Labs has made some truly disruptive breakthroughs,” noted Nabeel Hyatt of Spark Capital, who will be joining the Thalmic Labs board of directors with this financing. “We're excited not just for what they are building, but to see the new ecosystem of wearable computing that they are going to help push forward."

“User interfaces continue to evolve and make digital computing devices more invaluable in our day-to-day lives,” says Arvind Sodhani, president of Intel Capital and Intel executive vice president. “Thalmic Labs, with its new innovation in gesture and wearable technology, is making possible entirely new capabilities and consumer experiences on ultrabooks and tablets.”

Additional participants in the financing round include venture capital firms Formation 8, First Round Capital and FundersClub, along with the following individual investors including Paul Graham and Marc Benioff.

Thalmic Labs Inc.
Kitchener, Ontario, Canada

Thalmic is changing the way people interact with technology. Headquartered in Kitchener-Waterloo, Canada, we're developing exciting new technologies in the area of human-computer interaction: Technologies which bridge the gap between man and machine, enabling us to accomplish new feats, enhance our abilities, and explore new possibilities. more

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Techvibes NewsDesk

Techvibes NewsDesk

Techvibes is Canada's leading technology media property.Founded in 2002, Techvibes covers technology and business news that impacts Canadians. We combine breaking local news with international coverage to deliver a unique balance of insight and information. The Techvibes Newsdesk covers a broad beat and publishes general news stories. If you have a story you would like covered, email... more

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