Fleet tracking and telematics firm ProVision has secured £1m in seed funding to help accelerate plans to target fleets.
The funding comes from Suir Valley Ventures, an entrepreneur-led venture capital fund that launched in February 2017, together with private investors, and will enable ProVision to further implement its strategic expansion plans through its partnerships with large fleet operators, insurance providers, motor manufacturers and fleet leasing companies.
The company’s CameraMatics 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 Suir Valley Ventures Managing Partner, Barry Downes, said: “This seed funding will enable ProVision, with its proven technology, to modernise an even greater number of fleets, resulting in increased road safety, compliance with regulations and shielding them from fraudulent claims against drivers.”
As part of the investment, Gareth Burchell, head of stockbroking at Shard Capital Stockbrokers, is joining the board of ProVision.
