Computer vision startup Algolux raises $18.4 million in Series B

Canadian technology company Algolux closed an $18.4 million Series B funding round bringing its total funding to $32 million. The round was co-led by Forte Ventures and Drive Capital with additional funding from new investors Investissement Quebec, Castor Ventures, and Nikon-SBI Innovation Fund, as well as existing investors GM Ventures, Generation Ventures, and Intact Ventures .

Founded in 2014, the company develops computer vision software for advanced driver assistance systems (ADAS) and for autonomous vehicles.

“We are thrilled to be taking this next step in the company’s trajectory and to do so with the trust and support of outstanding investors. Algolux is actively engaged with leading OEMs, Tier 1s, and Tier 2s globally. The consistent theme is a desire from customers to significantly improve the performance of their driving and parking vision systems in even the most challenging real-world situations.” – Allan Benchetrit, Algolux CEO.

Algolux is the first company to use computational imaging to design algorithms that treat the camera as part of the overall perception stack; a bold departure from the traditional siloed approach. This leads to the resolution of harsh cases such as low-light, low contrast, and obstructions for object detection, imaging, and geometric estimation. In addition, using physical camera models reduces training data needs by an order of magnitude.