Taking part in Bord na Móna’s Accelerate Green accelerator for scaling businesses, CameraMatics is bringing deep tech to sustainability.
CameraMatics is one of several impactful, established Irish businesses taking part in Accelerate Green, the first Irish accelerator dedicated to scaling companies leading the response to climate action and sustainability by developing products and services based on green innovation.
Running from February to May 2022, Accelerate Green operated from from Boora, which represents the centre of Bord na Móna’s innovation heritage, demonstrating Bord na Móna’s commitment to the Midlands’ communities who are a key part of an ecosystem of projects and assets connected to eco-innovation, circular economy, and sustainability.
“We use AI camera technology, sensor technologies , telematics and vehicle engine data to provide real time accident prevention, empower drivers to improve driving standards and operational efficiencies and ultimately to reduce their carbon footprint”
This work is supported with partial funding through the Bord na Móna led European Commission funded LIFE Integrated Project “Peatlands and People”, an initiative that aims to support the realisation of a carbon-neutral, climate-resilient and environmentally sustainable country.
“We help companies who operate a mobile workforce and fleets of vehicles automate safety, performance and sustainability,” said CameraMatics CEO Mervyn O’Callaghan speaking ahead of the forthcoming Ireland’s Sustainable Future conference on 9 June.
O’Callaghan’s company Cameramatics provides cutting-edge, award-winning SaaS technology for fleet and driver risk management.
The business helps customers reduce accidents, improve operational efficiencies and manage compliance.
The business was named the Enterprise Ireland High-Potential Start-Up (HPSU) Founder of the Year for 2021.
Scaling fast, CameraMatics has close to 1,000 customers including global leading fleet operators.
O’Callaghan said that the technology can play a part in helping firms succeed on their sustainability journey.
“We use AI camera technology, sensor technologies , telematics and vehicle engine data to provide real time accident prevention, empower drivers to improve driving standards and operational efficiencies and ultimately to reduce their carbon footprint.”
Cameramatics founders O’Callaghan and Simon Murray previously set up and grew Edrive Group which was sold in 2016.
“Edrive was an outsource provider to more than 50 of the leading telematics and driver safety technology companies in the world. At time of its sale, Edrive was installing approximately 15,000 vehicles a month with some form of driver safety related technology. We also own Universal Graphics which, for the last 25 years, has been the number one vehicle branding company in Ireland for all major brands, leasing companies and fleet operators.”
The entrepreneurial journey has won CameraMatics a number of accolades. “We were lucky enough to be finalists in the EY – Entrepreneur of the Year in 2019 Awards and winners of the Enterprise Ireland HPSU company of the year in 2021. Through these networks we have found a very supportive networks of fellow entrepreneurs.”
Emerging from the pandemic, the company has been focused on improving its agility. “We have spent a huge amount of time trying to get all our information into one system which helps automate processes and communication internally and with our customers. We have also tried to remove the Zoom culture that came in during the Covid to free up peoples time and increase productivity.”
Looking to the year ahead, the company has ambitions to grow and raise funding. “We will be raising our Series B funding round later this year which will be for more than €25m.”
His advice to fellow entrepreneurs? “Focus on building your team and adding senior management as early as possible.
“Make decisions quick, go with your gut and raise money when you don’t need it.”
Pictured on the occasion of being named Enterprise Ireland High-Potential Start-Up (HPSU) Founder of the Year last year was Mervyn O’Callaghan, co-founder and CEO at CameraMatics, with Kevin Foley, Partner,Audit and Assurance at Grant Thornton, and Jenny Melia, Divisional Manager, High Potential Start-Ups at Enterprise Ireland. Image: Maxwells