AI Fleet Intelligence Startup CameraMatics Bags Up to €49M for Expansion

The investment will help the company expand internationally and continue developing new products as it grows across the UK, Ireland, Europe, and the United States.

The funding comes from a group of investors led by Blume Equity, with participation from the Ireland Strategic Investment Fund (ISIF) and Goodbody Capital Partners, which invested on behalf of AIB.

“This is a landmark moment for CameraMatics. When Simon and I founded the company in 2016, our ambition was to build a global technology platform that would fundamentally improve safety standards across commercial fleets. Our mission is simple but ambitious – to reduce driving and work-related accidents to zero through technology, AI and data-driven fleet intelligence,” said Mervyn O’Callaghan, co-founder and CEO of CameraMatics.

“Every day, our technology is helping fleet operators prevent accidents, improve driver behaviour and ultimately save lives on roads and worksites across multiple countries. That purpose continues to drive everything we do as a business. Since founding the company, we have delivered strong year-on-year growth, expanded internationally and earned the trust of many of the world’s leading fleet operators,” added O’Callaghan.

Eleanor Blagbrough, co-founding Partner, Blume Equity, said, “Mervyn, Simon and the team have built something genuinely impressive in a large and growing market. CameraMatics has established itself as a clear category leader within the rapidly growing video telematics and connected fleet market. The company combines strong technology differentiation with impressive commercial execution, evidenced by its sustained growth trajectory, blue-chip customer base and accelerating international expansion.

“Video telematics is at a tipping point as fleet operators increasingly recognise the operational, safety and sustainability benefits of connected fleet technology. We are particularly excited by the company’s long-term mission to use AI and connected fleet intelligence to materially improve global road safety outcomes.”

Founded in 2016 by Mervyn O’Callaghan and Simon Murray, CameraMatics helps fleet operators improve safety, reduce costs, and manage their vehicles more efficiently using AI-powered technology.

Its platform combines AI video monitoring, driver assistance features, and real-time fleet data analytics to give businesses better visibility into their operations. This helps companies reduce accidents and risks, improve driver performance, lower operating costs, and decrease carbon emissions.

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