CameraMatics has secured up to €49m (£42.3m) of investment to deliver the next phase of AI-powered video telematics innovation.

The investment, raised from a consortium led by Blume Equity, alongside the Ireland Strategic Investment Fund (ISIF) and Goodbody Capital Partners (on behalf of AIB), will also power growth across the UK, Ireland, mainland Europe and the United States.

Now serving nearly 1,000 fleet customers across these regions, CameraMatics delivers AI-driven video intelligence, advanced driver assistance systems and real-time operational analytics for cars, vans, trucks, buses, coaches and other commercial vehicles.

These deep insights help operators improve safety, reduce operational risks and cut carbon emissions through improved driver performance.

Mervyn O’Callaghan, co-founder and CEO at CameraMatics, said: “This is a landmark moment for CameraMatics. When Simon Murray 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 was simple but ambitious – to reduce driving and work-related accidents to zero through technology, AI and data-driven fleet intelligence.

“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.”

Over the past two years, CameraMatics has experienced particularly strong momentum in the enterprise fleet segment, where demand for AI-powered safety, compliance and operational efficiency solutions continue to accelerate across logistics, distribution, utilities and infrastructure sectors.

“This investment 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,” O’Callaghan added.

The company continues to invest heavily in innovation, machine learning, predictive safety technologies and connected fleet intelligence solutions designed to reshape commercial driving standards worldwide.

Recent enterprise contract wins include major organisations such as Royal Mail, Calor Gas, Wolseley, XPO and DFDS, while in the United States the company has expanded significantly through deployments with NASDAQ-listed Installed Building Products (IBP), which operates across more than 250 depots nationwide.

CameraMatics employs more than 150 people and has offices in Dublin, Waterford, Darlington, London, Amsterdam, Barcelona and the United States.

Existing investors, including Puma Growth Partners, Sure Valley Ventures and Enterprise Ireland, will remain shareholders in the business, while Salica Investments continues to support the growth of CameraMatics with the continuation of debt finance.

Co-founders Mervyn O’Callaghan and Simon Murray will stay at the helm of the company’s long-term growth strategy, while AGC Partners advised the existing shareholders on the transaction.