Autonomous vision platform Algolux closes $12.8 mln Series A

Algolux Inc, a Montréal-based provider of machine-learning stacks for autonomous vision and imaging, has raised about $12.8 million (US$10 million) in a Series A financing. The round was led by General Motors Ventures and joined by Drive Capital, Intact Ventures and Real Ventures. Algolux was founded in 2014 by CEO Allan Benchetrit and CTO Felix Heide, and with the support of accelerator TandemLaunch. Its technology helps vehicles and devices address challenges posed by everyday scenarios like extreme lighting and adverse weather. Algolux plans to use the funds raised to further advance its platform and pursue global business development.

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