Algolux Aims to Make Cars “See” Better Through $23 Million in Series B Funding

Algolux’s key mandate is to look past the “Goldilocks” situation of clear blue skies, where computer vision cameras have proven to be effective. Rather, Algolux aims to tackle darkness and bad visibility, something that tends to plague autonomous cars. Algolux’s key is that its platform is brand agnostic and can be embedded into existing vision systems so that image qualities in typically hard to see situations would be ameliorated.

Benchetrit mentioned to BetaKit that, “the world of cameras is actually going to evolve very quickly, but we feel like we’re, in many ways, well ahead of the curve”. While the global computer vision market is valued at $15.9 billion USD currently, it is set to balloon to over $51.3 billion USD by 2026 and Algolux is well positioned to overtake its competitors.

Algolux has already been recognized in the AI industry as a notable player and was one of five Canadian companies to make CB Insight’s fifth annual AI 100 list. So keep an eye out for Algolux, as they might soon be helping cars keep an eye out for you.

Author: Nisheet Karthikeyan, 2021 Summer Student-at-law