# Algolux

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/algolux

- Industry: Software
- Headquarters: Montreal, Canada
- Website: www.algolux.com
- Total disclosed funding: $31M
- Latest round: Series B (Jul 12, 2021)
- Investors on record: 12

## About

Algolux Inc. specializes in advanced computer vision and machine learning technologies tailored for autonomous vehicles, enhancing safety and operational efficiency through innovative AI solutions.Algolux Inc. was founded in 2013 and is headquartered in Montreal, Canada. The company focuses on developing cutting-edge AI technology for autonomous systems, including a comprehensive artificial intelligence stack that integrates deep learning and computer vision. The company has successfully raised a total of CAD 23.00 mn, with its most recent funding round being Series B in February 2023, supported by investors such as General Motors Ventures and Nikon Corporation. The founders, Felix Heide and Jonathan Assouline, have backgrounds in technology and innovation, contributing to the firm's strategic direction and operational growth.Algolux Inc. specializes in advanced computer vision and machine learning technologies, particularly in the context of autonomous vehicles. The company offers an end-to-end artificial intelligence (AI) stack that integrates deep learning, computer vision, and computational imaging. These technologies enhance object detection and distance estimation, essential for the safe operation of autonomous systems, particularly in challenging visual conditions such as low light and adverse weather. Algolux's software has been successfully integrated into test vehicles like the Freightliner Cascadia, primarily catering to clients in the automotive and logistics sectors across North America and Europe.Algolux operates on a business-to-business (B2B) model, providing its AI solutions to automotive manufacturers and technology partners engaged in the development of autonomous vehicles. The revenue structure is based on partnerships, licensing agreements, and integration services, where clients pay for the deployment of Algolux’s software tailored to their specific needs. Engagements often involve multi-year contracts ensuring ongoing support and software updates, contributing to a stable revenue stream. Specific pricing details remain proprietary, but partnerships encompass comprehensive agreements outlining terms of use and performance metrics, aligning with Algolux's focus on safety-critical applications in the automotive sector.In February 2023, TORC Robotics, Inc. agreed to acquire Algolux Inc., enhancing its capabilities towards the commercialization of Level 4 autonomous trucking. The recent funding from this acquisition will be utilized to accelerate product development and expand into new geographic markets. Algolux plans to enhance its product offerings and deepen its integration into existing partnerships in the United States and Canada, with potential expansions into other regions driven by increasing demand for autonomous technologies.

## Funding rounds

- Series B, Jul 12, 2021, $18M — Investment Quebec, General Motors Ventures, Forte Ventures, SBI Investment, Drive Capital, Nikon Corporation, Alumni Ventures Group, Intact Ventures, Generation Ventures
- Series A, May 1, 2018, $10M — General Motors Ventures, Real Ventures, Drive Capital, Intact Ventures
- Series A, Aug 18, 2014, $2.6M — Real Ventures, Ferst Capital Partners, TandemLaunch
- Seed, Oct 1, 2013, $0.3M — TandemLaunch

## Investors

- TandemLaunch (https://capitalatlas.ai/funds/tandemlaunch) — Seed, Series A
- Real Ventures — Series A
- Ferst Capital Partners (https://capitalatlas.ai/funds/ferst-capital-partners) — Series A
- General Motors Ventures (https://capitalatlas.ai/funds/general-motors-ventures) — Series A, Series B
- Drive Capital (https://capitalatlas.ai/funds/drive-capital) — Series A, Series B
- Intact Ventures (https://capitalatlas.ai/funds/intact-ventures) — Series A, Series B
- Investment Quebec (https://capitalatlas.ai/funds/investment-quebec) — Series B
- Forte Ventures (https://capitalatlas.ai/funds/forte-ventures) — Series B
- SBI Investment (https://capitalatlas.ai/funds/sbi-investment) — Series B
- Nikon Corporation — Series B
- Alumni Ventures Group (https://capitalatlas.ai/funds/alumni-ventures-group) — Series B
- Generation Ventures — Series B