This paper presents the Visual Simultaneous Localization and Mapping (vSLAMTM) algorithm, a novel algorithm for simultaneous localization and mapping (SLAM). The algorithm is vision-and odometry-based, and enables low-cost navigation in cluttered and populated environments. No initial map is required, and it satisfactorily handles dynamic changes in the environment, for example, lighting changes, moving objects and/or people. Typically, vSLAM recovers quickly from dramatic disturbances, such as “kidnapping”.