CameraMatics raises €49M for international expansion and product innovation
By
Laura Varley
Crackles when you bite it. Shows the baker did the work.
Summary
CameraMatics, an AI-powered fleet safety and video telematics company founded in 2016 and supported by SETU Xcelerate, has raised €49 million in funding. The investment round was led by Blume Equity, with participation from the Ireland Strategic Investment Fund and Goodbody Capital Partners (on behalf of AIB). The company, headquartered in Dublin and founded by Mervyn O'Callaghan and Simon Murray, plans to use the funds to fuel international expansion and product innovation.
Key quotes
· 3 pulledThe organisation has expressed future plans to fuel the next phase of international expansion and product innovation.
SETU Xcelerate-powered CameraMatics has secured a €49m investment, that will be put towards the organisation's plans for further expansion and product innovation.
The funding was led by Blume Equity, alongside the Ireland Strategic Investment Fund and Goodbody Capital Partners, on behalf of AIB.
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