Algolux today raised $2.6 million.
The Series A round was led by by Real Ventures, with participation from a consortium of angel investors.
The Montreal-based startup, which specializes in computational optics, says the funding will enable it to commercialize its deblurring software while continuing to build out its IP portfolio.
“We are thrilled to have secured funding from such an insightful and collaborative investment group,” said Allan Benchetrit, CEO of Algolux. “Our vision is to provide an essential deblurring engine for mobile optics."
"The capital will allow us to work towards our primary goal of licensing Algolux technology to our partners so that they can immediately offer higher quality images to their customers," he added. "In addition, they will be able to lower the manufacturing costs of their cameras and reduce device thickness.”
The company's technology enables cameras to capture clear images with existing lenses. It also allows camera manufacturers to produce thinner and lighter camera modules at lower costs. Algolux says it is focusing its efforts on smartphones and tablets at this time, but adds that the technology can be implemented in all camera types, including video surveillance and medical imaging.
As part of the financing, Alan MacIntosh, Partner at Real Ventures will also be joining the company’s board of directors, as will Helge Seetzen, CEO of TandemLaunch and Sylvain Desjardins, co-President of VoiceAge.
Algolux has grown from 5 to 15 employees this year.