Thalmic Labs is a Canada-based wearable technology company, which has recently announced that a whopping amount of $120 million (USD) Series B funding has been confirmed and was made possible and led by Intel Capital, Fidelity Investments Canada and the Amazon Alexa Fund.
In 2012, Thalmic came to be in Ontario and was recognized for the Myo, a gesture control and motion-guided armband that works with the electrical activity in our muscles and controls a range of devices that include drones, computers, smartphones, and devices that are possible with built-in wireless connectivity.
In the past, Thalmic was able to raise around $20 million, the majority of which arrived via its Series A round back in 2013. Development is in the works for new and existing products because of the available fund.
“This is a very cool product, and while the concept of gesture control as a whole is quite new, the Myo was easy enough to use from the first time I tried!” This was one of the published testimonies from one of the users in the website.
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Thalmic believes that to invent entirely new breakthrough technologies means bringing them to life. Stephen Lake,the CEO and cofounder of Thalmic Labs said in a press release, “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.”
Thalmic will soon be developing more of its products and incorporating even more futuristic features such as voice control.
High-profile investors on board Thalmic are also noteworthy. Last year, Amazon announcced with the new Amazon Alexa Fund, it was making $100 million available with pans of investing in voice-control technology. This provides clues on what Thalmic might be bringing into the table – like the voice control technology.
Another notable involvement is Intel, one of the world’s big rollers and major chip-makers, has planned further into the internet of things (IoT), which includes wearables and are considered a major driving force.
“In the three years since Intel Capital first invested in Thalmic, they’ve made tremendous breakthroughs in technology,” Josh Walden, senior vice president and general manager at Intel’s New Technology Group said. He also added, “These innovations augment Intel’s strategy for wearable technology and align with our vision to bring new and exciting experiences to users.”
Thalmic Labs has more than 100 people which include engineers and researchers, at its Headquarters in Canada. The company promises to grow an even more massive team in both Waterloo and in San Francisco.
We will be able to expect more from Thalmic and the revolutionary Myo Armband in the coming years because I have a feeling they’re making even more exciting technological breakthroughs and with the support of the major key players and big investors, we’re looking into a favourable future for the company.