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.

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