GM Ventures Invests In Artificial Intelligence Company For Self-Driving Cars
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GM Ventures, a venture capitalist arm for General Motors, has invested millions of dollars into Algolux. The Canada-based company is currently developing technology to help self-driving cars adapt to scenarios via machine learning.
It’s unclear how much GM invested, but the automaker was a leading investor in a round of Series A funding. At the end of the investment period, Aloglux received $10 million.
The company has already introduced deep perception technology to enable autonomous vision. The tech will help self-driving cars “see” better, especially in everyday scenarios like extreme sun glare or weather conditions. Ultimately, Algolux’s technology and machine learning will create safer autonomous vehicles.
“Algolux’s unique machine learning applications can accelerate the realization of these performance gains fornext-generationn perception stacks, and thus accelerate the advancement of safe autonomous transportation,” said Jason Nolte, GM Ventures Investment Manager.
GM reiterated that safety is the automaker’s number one concern in self-driving car development. Collectively, the industry took a breath after an Uber self-driving car struck and killed a pedestrian in Arizona last March.
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This makes me so happy! I think this direction is going to be amazing as it develops over the next day decade. Riding in a autonomous vehicle will be amazing! Can’t wait!