Algolux Inc., a Montreal, Canada-based provider of machine-learning stacks for autonomous vision and imaging, closed a USD $10M Series A funding.
The round was led by General Motors (GM) Ventures, with participation from Drive Capital, Intact Ventures, and Real Ventures. In conjunction with the funding, Jason Nolte, GM Ventures Investment Manager, and Mark Kvamme, Partner at Drive Capital, will be joining the Algolux Board of Directors.
The company intends to use the new capital to advance its technology and grow its global business development activities.
Led by Dr. Felix Heide, co-founder and CTO, and Allan Benchetrit, co-founder and CEO, Algolux has introduced innovative deep perception technology to enable autonomous vision, enabling vehicles and devices to address the difficulties posed by every-day scenarios like extreme lighting and adverse weather conditions. Deployments can lead to ADAS and autonomous vehicles, accurate video security systems, and mobile imaging in harsh circumstances.