ProVision Vehicle Cameras Secures €1m Funding

10 Nov 2017 | 02.39 pm

ProVision Vehicle Cameras Secures €1m Funding

Equity investment led by Suir Valley Ventures

10 Nov 2017 | 02.39 pm

ProVision Vehicle Cameras, which provides advanced fleet and driver management systems, has raised €1m equity funding from Suir Valley Venutres and other private investors.

ProVision was founded by Mervyn O’Callaghan and Simon Murray and the firm’s niche is in the field of quality video recording capabilities known as CameraMatics.  This technology provides remotely accessible IoT solutions to manage and reduce fleet risk, enhance driver safety, increase fleet efficiencies and help operators comply with growing governance and compliance regulations.

The technology combines vehicle camera and tracking technology linked to cloud software. ProVision’s most advanced products can issue warnings such as flagging driver fatigue, mobile phone use, collision dangers, lane departure and driver distractions, ultimately improving road safety and helping companies with compliance requirements.

ProVision said its system is used by hundreds of fleets across the UK and Ireland. The company plans to accelerate the roll-out through its partnerships with large fleet operators, insurance providers, motor manufacturers, and fleet leasing companies.

AA Ireland provides video footage of traffic news to ProVision and is trialling the use of ProVision cameras in its AA Rescue patrol vans. In return ProVision offers AA’s commercial roadside assistance services to its customers.

Suir Valley Ventures managing oartner, Barry Downes, commented: “The IoT is an industry with vast potential and ProVision’s cloud based software solution provides fleet managers with the most comprehensive end-to-end solution available in the market.”

Suir Valley Ventures is an entrepreneur led Venture Capital fund that invests in early stage software companies involved in areas such as augmented reality, fintech and Internet of Things.

Photo: Mervyn O’ Callaghan (left), Barry Downes and Simon Murray

 

 

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