Close Menu
Thalmic Labs Raises $120 Million for Myo Armband

September 19

Waterloo’s Thalmic Labs just announced a new $120 million USD in series B investments from Intel Capital, The Amazon Alexa Fund and Fidelity Investments Canada. Thalmic’s ‘Myo’ is a connected band which senses the users electrical impulses and translates them into a computing platform. Since it’s release in 2012, their developer community has created sign language translation tools, virtual reality experiences and most notably to train amputees how to use their prosthetic limbs.

“We’ve been reimagining human-computer interaction since we first created the Myo armband in 2012 and are proud of what the team at Thalmic has accomplished to date,” stated Thalmic Co-Founders Aaron Grant, Matthew Bailey, and Stephen Lake in a letter this morning, “With Myo, we built an entirely new type of sensor from the ground up, made breakthrough advances in gesture recognition, and ultimately turned science fiction into reality for tens of thousands of customers in over 150 countries.”

With this staggering round of funding Thalmic has big plans, though no concrete announcements have been made.

“Myo was just the beginning. We have new products in the pipeline and are excited to share more soon.”

Back to all news
"A culture of collaboration is really at the heart of what’s next in innovation. What’s exciting in Toronto is that we have local and international businesses partnering with the startup ecosystem and increasingly with the academic community to position themselves for success in the future. And it’s happening across the spectrum from digital media and information technology, to life sciences and healthcare, energy solutions and social innovation.”
Dr. Ilse Treurnicht, Former CEO, MaRS Discovery District
“I think it’s an attractive place to come for talented people, it's a huge market for creative people and I think there are some companies emerging that give people hope that it can be done here.”
Mike McDerment, CEO/Co-Founder, Freshbooks
“Something that makes Toronto truly unique is that willingness to share and communicate with people very openly inside the industry looking at the global pie as something we can all co-create and achieve together.”
Satish Kanwar, VP of Product, Acceleration, Shopify
“The scale and quality of meet-ups and conferences and speaking events have gone up dramatically. You don’t need to leave Toronto to build a successful company.”
Evgeny Tchebotarev, Co-Founder, 500px
“In Toronto, Bombardier manufactures business and commercial aircraft and relies on the diversified, local regional supply chain. We work with more than 70 suppliers located in the Greater Toronto Area and we benefit from a variety of expertise going from complex machining to systems integration.”
Graham Kelly, Vice-President, Global Operations & Toronto Site, Bombardier Aerospace
"Startups in Toronto benefit from support at every stage. From the very early stage we have incubators, accelerators and seed stage investors. In the growth stage, we have funders willing to invest a lot of money to really help a company take-off. This gives tech companies in Toronto a huge advantage.”
Allen Lau, CEO & Co-Founder, Wattpad
"If you come to our studio and take a look at the people sitting around the table discussing ideas, they’re from almost every part of the world. I think it has really helped Umbra create an international style.”
Paul Rowan, Co-Founder, Umbra