The funding will help Thalmic Labs with product development and market expansion. As part of the investment from Intel Capital, Thalmic Labs will gain access to Intel's manufacturing and technology expertise to help the company scale production and enhance next generation products.
Prior to this financing, Lake and his co- founders, University of Waterloo classmates Aaron Grant and Matthew Bailey, had previously announced $1 million in seed funding raised in 2012.
Intel's Series A funding of $14.5 million is the largest round of funding that any post-Y Combinator company has received to date.
The MYO device works out of the box with things you already have - like your Mac or Windows PC. It lets you use the electrical activity in your muscles to wirelessly control your computer, phone, and other favorite digital technologies. You can control presentations, video, content, games, browse the web, create music, edit videos, and more. Attached to your hand, MYO uses Bluetooth 4.0 Low Energy to communicate with the devices it?s paired with. It features on-board, rechargeable Lithium-Ion batteries, and an ARM processor. The MYO is outfitted with a proprietary muscle activity sensors. It also features a 6-axis inertial measurement unit.
Nyo will ship early next year for $149.