Daimler Truck’s Torc Robotics to acquire venture-backed Algolux

• Algolux was founded in 2014 by Allan Benchetrit and Felix Heide, with the support of Canadian startup accelerator and venture capital firm TandemLaunch
• Torc, which is focused on commercializing self-driving technology, said Algolux is a specialist in perception for autonomous vehicles
• In 2021, Algolux raised $18.4 million in Series B financing led by Forte Ventures and Drive Capital

Torc Robotics, an affiliate of Daimler Truck, has agreed to acquire Algolux, a Montreal-based provider of computer vision and image optimization solutions. No financial terms were disclosed.

Algolux was founded in 2014 by Allan Benchetrit and Felix Heide, with the support of Canadian startup accelerator and venture capital firm TandemLaunch.

Blacksburg, Virginia-based Torc, which is focused on commercializing self-driving technology, said Algolux is a specialist in perception for autonomous vehicles. Torc has been working closely with the company for over a year on multiple perception concepts and methods for robustly improving object detection and distance estimation, while evaluating synergies.

“Torc shares in our commitment to create robust technology to realize the potential of autonomy and help save lives, which is one of the many reasons why joining forces makes sense for our teams, ” said Benchetrit, Algolux’s president and CEO, in a statement. “Algolux’s established team with deep expertise in Artificial Intelligence/Machine Learning (AI/ML) talent and perception complements Torc’s already experienced engineering team.”

In 2021, Algolux raised $18.4 million in Series B financing. Forte Ventures and Drive Capital led the round with participation from new investors Investissement Quebec, Castor Ventures and Nikon-SBI Innovation Fund and existing investors GM Ventures, Generation Ventures and Intact Ventures.