CameraMatics raises €49 million in a round led by Blume Equity and Goodbody Capital Partners

LONDON: Mindflair plc, an AIM-quoted investor in artificial intelligence technology, said Tuesday that portfolio company CameraMatics has raised up to €49 million in new funding, triggering a €600,000 cash return to Mindflair while allowing it to retain an interest in the growing fleet intelligence firm.

The funding round for MySafeDrive Limited, which trades as CameraMatics, was led by a consortium including Blume Equity, the Ireland Strategic Investment Fund and Goodbody Capital Partners, the company said.

Mindflair holds an interest in CameraMatics through Sure Valley Ventures’ first fund, or SVV1. A portion of SVV1’s investment will be repaid to fund investors, delivering €280,000 in cash to Mindflair. That amount effectively returns the initial investment made by SVV1 in CameraMatics while SVV1 retains a shareholding in the company.

Additionally, in July 2025, Mindflair and a small consortium of investors provided CameraMatics with a working capital facility while the company sought long-term funding. That facility is also being repaid, generating a further €320,000 for Mindflair, representing a 78% cash return on that additional investment.

Mindflair said it expects total cash inflow of €600,000 while still retaining an interest in CameraMatics via SVV1.

Separately, Sure Ventures plc, the London-listed venture capital fund in which Mindflair holds a 24.4% stake, is expected to receive aggregate cash proceeds of €880,000 from the transaction.

CameraMatics has built an AI-powered platform that helps transport fleet managers reduce risk, improve driver safety and comply with industry governance rules. The company serves nearly 1,000 fleet customers across thousands of commercial vehicles in the U.K., Ireland, mainland Europe and the U.S. It employs more than 150 people across offices in Dublin, Waterford, Darlington, London, Amsterdam, Barcelona and the United States.

Recent enterprise contract wins include Royal Mail, Calor Gas, Wolseley, XPO and DFDS. In the U.S., the company has expanded through deployments with NASDAQ-listed Installed Building Products, which operates across more than 250 depots nationwide.

The new funding will be used to accelerate CameraMatics’ go-to-market expansion, strengthen enterprise sales and customer success capabilities, invest further in AI and sustainability-focused product innovation, and support continued growth in North America and mainland Europe.

This marks the sixth cash realisation achieved to date by SVV1, following €2.6 million in proceeds from the sale of Getvisibility in April 2025.

Nicholas Lee, director of Mindflair plc, said the transaction enabled the company to achieve a significant cash realisation while retaining exposure to a growth-oriented business.

“This is another excellent result for Mindflair,” Lee said. “It also highlights the potential value within Mindflair’s portfolio and the potential for further substantial returns from our underlying investments.”

The cash inflow represents a significant sum compared with Mindflair’s current market capitalisation of £2.6 million.