Canadian startup Thalmic Labs raises $120 million

Mon Sep 19, 2016 11:55am EDT
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(Reuters) - Canada-based start-up Thalmic Labs said on Monday it had raised $120 million from investors, including Intel Capital, the Amazon Alexa Fund and Fidelity Investments Canada.

Thalmic Labs, founded in 2012, said the funding would help develop technology for its Myo gesture-control armband that wirelessly controls the wearer's computers, phones and other digital devices.

Spark Capital, First Round Capital and iNovia also took part in the funding round.

(Reporting by Laharee Chatterjee; Editing by Shounak Dasgupta)