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Algolux Closes $18.4M Series B Funding


Algolux, a Montreal, QC, Canada-based computer vision software company, raised $18.4M in Series B funding.
The round was led by Forte Ventures and Drive Capital with participation from Investissement Quebec, Castor Ventures, Nikon-SBI Innovation Fund, GM Ventures, Generation Ventures and Intact Ventures. As part of the funding round, Louis Rajczi, Partner at Forte Ventures, and Alistair Mitchell, President at Generation Ventures have joined the Algolux Board of Directors. Alan MacIntosh, Board Partner at Real Ventures, will be moving to a Board Observer role.
The company intends to use the funds to achieve the following three goals:
Accelerate adoption of its products across mobility markets ....

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GM Ventures Increases Funding In AI Software Company Algolux


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Algolux, an AI software company based out of Quebec, has announced the closure of series B funding, raising $18.4 million to help accelerate market adoption of the company’s scalable computer vision and image optimization solutions. GM Ventures was among the companies leading this investment round.
The other companies leading the series B funding round included Forte Ventures, Drive Capital, Investissement Quebec, Castor Ventures, Nikon-SBI Innovation Fund, Generation Ventures, and Intact Ventures.
GM Ventures initially invested in Algolux in 2018, pouring millions into the Canadian technology company. The software company received $10 million during Series A funding.
Algolux develops technology that enables the operation of autonomous vehicles, including image optimization to provide critical data to self-driving vehicle algorithms. ....

Allan Benchetrit , Investissement Quebec , Innovation Fund , Gm Authority , Forte Ventures , Drive Capital , Castor Ventures , Generation Ventures , General Motors , முதலீடு க்வீபெக் , கண்டுபிடிப்பு நிதி , கம் அதிகாரம் , கோட்டை முயற்சிகள் , இயக்கி மூலதனம் , ஆமணக்கு முயற்சிகள் , ஜெநரேஶந் முயற்சிகள் , ஜநரல் மோட்டார்கள் ,