Home Irish AI startup eyes further US expansion with $36m funding round

Irish AI startup eyes further US expansion with $36m funding round

Workplace safety start-up firm Protex AI has secured $36m in funding as it aims to increase its presence in the United States. 

The oversubscribed, Series B funding round was led by global investment heavyweight Hedosophia, with further participation from Salesforce Ventures, and existing investors in Protex. 

Based in Limerick, Ireland, Protex AI has blossomed from the production of its tech solutions which act as a “third eye” for existing CCTV systems. 

Effectively, the AI platform plugs into the existing CCTV system to operate autonomously, using computer vision to gather events to be reviewed.

The U.S. and North America overall, has been the most lucrative market for the company over the last two years, with the funding round expected to act as a catalyst for significant expansion.

In total, Protex has a presence in over 20 countries across Europe, North America, Latin America, and Asia-Pacific with several Fortune 500 companies on its client list.

Forefront of this transformation

Dan Hobbs, Protex AI CEO said, “As global industries grapple with tighter regulations and increasing operational complexities, safety has emerged as a critical lever for growth and resilience.”

He continued, “The safety market is evolving rapidly, with organizations prioritizing automation, efficiency, and employee wellbeing. We’re at the forefront of this transformation, integrating cutting-edge computer vision and AI technologies to not only enhance safety but also drive measurable improvements in workplace operations.” 

The firm was established in 2021 by Hobbs and CTO, Ciaran O’Hara, who first met at the tender age of 12 years old at a Young Scientist and Technology Exhibition. More recently, the pair were included in the 2023 Forbes 30 under 30 list for Europe.

Image credit: Via Midjourney

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Graeme Hanna
Tech Journalist

Graeme Hanna is a full-time, freelance writer with significant experience in online news as well as content writing. Since January 2021, he has contributed as a football and news writer for several mainstream UK titles including The Glasgow Times, Rangers Review, Manchester Evening News, MyLondon, Give Me Sport, and the Belfast News Letter. Graeme has worked across several briefs including news and feature writing in addition to other significant work experience in professional services. Now a contributing news writer at ReadWrite.com, he is involved with pitching relevant content for publication as well as writing engaging tech news stories.

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