The investment has been led by growth investor Blume Equity, alongside the Ireland Strategic Investment Fund (ISIF) and Goodbody Capital Partners, acting on behalf of AIB.
CameraMatics said the funding would support the next phase of its international expansion and continued product development, with a particular focus on advancing its AI-powered fleet safety and operations platform.
The investment will be used to accelerate CameraMatics’ go-to-market expansion, strengthen its enterprise sales and customer success team, and invest further in AI and sustainability-focused product innovation.
Commenting on the investment, Mervyn O’Callaghan, co-founder and chief executive of CameraMatics, said: “Our mission is simple but ambitious – to reduce driving and work-related accidents to zero through technology, AI and data-driven fleet intelligence.
“This investment from Blume Equity, ISIF and Goodbody Capital Partners gives us the capital and strategic support to accelerate our next phase of growth – scaling internationally, deepening our AI capabilities and continuing to invest in technologies that can help change driving standards globally.”
Cameras for waste fleets
For the waste and recycling sector, CameraMatics has established itself as a provider of video telematics and fleet intelligence systems designed to improve safety, reduce risk and enhance operational performance.
Its platform combines AI-enabled cameras, vehicle telematics and driver analytics to help operators identify and prevent incidents before they occur.
The technology is designed to improve driver behaviour, provide real-time alerts, streamline compliance and give fleet managers greater visibility over day-to-day operations.
The systems have been adopted by a number of waste operators. Thorntons Recycling uses CameraMatics technology across its fleet, operating five cameras on each of its 175 vehicles as part of a wider focus on improving safety and efficiency.
CameraMatics has also worked with Gloucestershire-based food and beverage recycler N-Virocycle. The company operates a fleet of more than 30 specialist vehicles, including vacuum tankers and bulkers and tippers.
CameraMatics
Founded in 2016 by fleet industry veterans Mervyn O’Callaghan and Simon Murray, the business now serves almost 1,000 fleet customers operating thousands of commercial vehicles throughout the UK, Ireland, mainland Europe and the United States.
The company employs more than 150 people across offices in Dublin, Waterford, Darlington, London, Amsterdam, Barcelona and the US.
Existing investors Puma Growth Partners, Sure Valley Ventures and Enterprise Ireland will remain shareholders in the business, while Salica Investments will continue to support CameraMatics through debt finance.
Co-founders Mr O’Callaghan and Simon Murray will continue to lead the business.
Register for free to comment