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
Algolux Closes $18 4 Million Series B Round for Robust Computer Vision
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