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Technology / Software

Thalmic Labs receives $14.5m funding

Thalmic Labs, the manufacturer of wearable gesture control device MYO, has received $14.5m funding from Intel Capital, Spark Capital and other venture capital companies.

Apart from the investment, Thalmic Labs will also have access to Intel’s manufacturing and technology expertise that will help the company to increase production and improve next generation products.

Thalmic Labs CEO and co-founder, Stephen Lake, said that the funding will be used to fuel continued growth, further product development of MYO, and develop future products and technologies.

"This new investment will help us realise our vision of a new era of computing, where the lines between humans and digital technology become increasingly blurred," Lake said.

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Intel Capital president and Intel executive VP, Arvind Sodhani, said that the user interfaces continue to evolve and make digital computing devices more invaluable in our day-to-day lives.

"Thalmic Labs, with its new innovation in gesture and wearable technology, is making possible entirely new capabilities and consumer experiences on ultrabooks and tablets," Sodhani said.

MYO is said to allow the users to control computers, smartphones and other digital devices with hand gestures.


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CBR Staff Writer

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