Funding Milestone Achieved
Waterloo-based startup Thalmic Labs has successfully raised a significant $14.5 million in its Series A funding round, marking an important step forward for the company and its innovative products.
This substantial investment, orchestrated by principal investors Spark Capital and Intel Capital with contributions from other notable firms including Formation 8, First Round Capital, FundersClub, and influential individual backers like Paul Graham, Garry Tan, and Marc Benioff,
will be strategically deployed to accelerate product development across Thalmic’s portfolio. The \(14.5 million injection comes after securing a previous \)1 million seed round in 2012.
Product Overview: MYO Armband Innovation
At the core of this funding success is the MYO armband, a cutting-edge wearable technology representing a new paradigm in user interaction with digital devices. This compact device employs sophisticated electrodermal sensors to interpret minute arm movements as distinct input commands.
The armband’s ability to translate gestures into computer actions offers precision control for various applications — from gaming and entertainment interfaces on smartphones and tablets, extending potentially to desktop computing, automotive systems, or even home automation setups.
Thalmic Labs was founded by a trio of University of Waterloo mechatronics engineering graduates: Matthew Bailey, Aaron Grant, and Stephen Lake. Their technical background provided the foundation for developing this novel human-computer interaction technology.
Investor Confidence and Strategic Priorities
According to co-founder Stephen Lake, who previously discussed the company’s backing options with TechCrunch, the funding round was highly sought after despite prevailing industry skepticism about hardware startups.\n”We heard from everyone going in that no one will touch hardware… investors want social/local/mobile software,” he explained. “But I think that a lot of it is that it’s the right time for it.”\nLake’s statement highlights how funding trends are shifting toward innovative hardware solutions, with successful proof-of-concept preorders demonstrating viable demand and validating investment potential. MYO has already generated considerable excitement through its preorder campaign — exceeding 30,000 units sold at a target price point of $149 each.
This substantial market validation (projecting over $4.5 million in potential revenue) clearly demonstrated to investors that despite hardware being traditionally perceived as less “sexy,” it holds genuine promise when executed properly and timed correctly with technological readiness.
Early Success Despite Hardware Challenges
MYO’s journey hasn’t been without hurdles, particularly the misconception that hardware startups face.\n”One of the reasons that we set up our preorder campaign as we did… is that our number one bar is shipping the product that we want to ship,” Lake emphasized. By structuring their preorder process carefully—avoiding immediate payment capture until after quality verification—they aimed to achieve a critical balance between market readiness and ensuring customer satisfaction with their “perfect” first release. This approach reflects growing recognition in venture capital circles, fueled by successes like Leap Motion’s controller (which famously had launch delays), that hardware product development requires careful phasing.
With this Series A funding secured before the MYO was even available for preorder to the general public, Thalmic can now focus on ramping up manufacturing capacity and expanding their technical team.\n”This round will definitely help us as we find the right people… further developing MYO and getting to full production with it,” Lake confirmed.
The Path Forward in Human-Computer Interaction Innovation
While preorders offer financial backing, Thalmic’s challenge extends beyond simple availability: delivering a refined user experience that establishes gesture control not just as viable but as desirable.\n”We’re trying to ensure that we have the best possible product and platform at launch,” Lake stated. Successful navigation of this early adoption phase is crucial for hardware startups venturing into unexplored interaction paradigms, where first impressions can make or break long-term market acceptance.
This $14.5 million investment represents more than just financial resources; it’s a vote of confidence in the future potential of natural gesture interfaces — technology that Thalmic aims to perfect before its market debut.
📚 Featured Products & Recommendations
Discover our carefully selected products that complement this article’s topics:
🛍️ Featured Product 1: Nite Ize Gear Tie Reusable Rubber Twist Tie 18 in. – 2 Pack
Image: Premium product showcase
High-quality nite ize gear tie reusable rubber twist tie 18 in. – 2 pack offering outstanding features and dependable results for various applications.
Key Features:
- Professional-grade quality standards
- Easy setup and intuitive use
- Durable construction for long-term value
- Excellent customer support included
🔗 View Product Details & Purchase
🛍️ Featured Product 2: Prentis Bucket Hat Cypress
Image: Premium product showcase
Professional-grade prentis bucket hat cypress combining innovation, quality, and user-friendly design.
Key Features:
- Premium materials and construction
- User-friendly design and operation
- Reliable performance in various conditions
- Comprehensive quality assurance
🔗 View Product Details & Purchase
🛍️ Featured Product 3: Neso Sidelines Grande Shelter
Image: Premium product showcase
High-quality neso sidelines grande shelter offering outstanding features and dependable results for various applications.
Key Features:
- Professional-grade quality standards
- Easy setup and intuitive use
- Durable construction for long-term value
- Excellent customer support included
🔗 View Product Details & Purchase
💡 Need Help Choosing? Contact our expert team for personalized product recommendations!
