CameraMatics partners with Maritime Transport Ltd

RNS Number : 1290F

Pires Investments PLC

14 July 2021

 

14 July 2021

Pires Investments plc

("Pires" or the "Company")

CameraMatics partners with Maritime Transport Ltd

Pires Investments plc (AIM: PIRI), the investment company focused on next generation technology, is pleased to provide an update on its investment in CameraMatics, the leading IoT fleet and vehicle safety technology specialist, which Pires is invested in through its circa 20% investment in Sure Valley Ventures ("SVV").

CameraMatics has partnered with UK transport and logistics operator Maritime Transport Ltd ("Maritime") to fit connected smart camera systems across its entire fleet. Maritime operates a fleet of more than 1,500 trucks, employing over 2,000 drivers and covering some 120 million miles each year.

CameraMatics provides a modular software platform based on Camera Technology, Vision Systems, AI, Machine Learning and Telematics, combined with Fleet Safety modules, that help fleet operators to drive new safety standards across their fleet and drivers.

The company has provided Maritime with a 360˚ camera setup, including in-cab driver-facing cameras, plus left-turn alerts and smart sensors. The drivers appreciate the extra visibility the technology provides and the protection it gives them from fraudulent claims. Remote download of footage is a major benefit of the platform and saves the fleet team time and hassle.

So far, almost 1,000 vehicles have been fitted with CameraMatics, with the rest of the installations happening on a daily basis as Maritime's fleet becomes safer, smarter and more efficient.

Pires has a circa 20% interest in SVV, a venture capital fund focused on investing in the software technology sector with a specific focus on Artificial Intelligence, the Internet of Things, Cyber Security, Machine Learning, Immersive Technologies and Big Data. 

Peter Redmond, Chairman of Pires commented:

"We want to congratulate CameraMatics on its new partnership with Maritime. The partnership confirms the company as a leading player in the fleet technology industry at a time when fleet safety is growing ever-more important. Following its recent funding round, completed in January 2021, we are excited about the future for CameraMatics."

Enquiries:

Pires Investments plc Peter Redmond, Chairman Nicholas Lee, Director	Tel: [phone]
Joint Broker Peterhouse Capital Limited Duncan Vasey/Lucy Williams	Tel: [phone] Tel: [phone]
Joint Broker Tennyson Securities Peter Krens	Tel: [phone]
Financial media and PR Yellow Jersey Sarah Hollins Henry Wilkinson Annabelle Wills	Tel: [phone]

Notes to Editors

About Pires Investments plc

Pires Investments plc (AIM: PIRI) is an investment company providing investors with access to a portfolio of next generation technology businesses with significant growth potential.

The Company is building an investment portfolio of high-tech businesses across areas such as Artificial Intelligence, Internet of Things, Cyber Security, Machine Learning, Immersive Technologies and Big Data, which the Board believes demonstrate evidence of traction and the potential for exponential growth, due to increasing global demand for development in these sectors.

For further information, visit: https://piresinvestments.com/ .

About CameraMatics

CameraMatics is a disruptive technology for Fleet and Driver Risk Management. The CameraMatics SaaS-based full-stack platform is a modular software platform based on Camera Technology, Vision Systems, AI, Machine Learning and Telematics, combined with Fleet Safety modules that help fleet operators to drive new safety standards across their fleet and drivers.

By reducing accidents, improving operational efficiencies, managing compliance, it gives complete visibility and peace of mind for today's challenges in fleet operations. CameraMatics is based in Dublin and Waterford (Ireland), London (UK), Richmond VA (USA) and has recently made an entry into the market in mainland Europe.

Further details about CameraMatics can be found at https://www.cameramatics.com/ .

Reach is a non-regulatory news service. By using this service an issuer is confirming that the information contained in this announcement is of a non-regulatory nature.

 

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