Mindflair (MFAI) has announced a significant cash realisation from its investment in fleet intelligence platform CameraMatics, following a funding round of up to €49 million led by Blume Equity, Ireland Strategic Investment Fund and Goodbody Capital Partners.
The AI-focused investor expects to receive total cash proceeds of €600,000 from the transaction. This includes €280,000 from the partial repayment of Sure Valley Ventures Fund 1's original investment in CameraMatics and a further €320,000 from the repayment of a working capital facility provided by Mindflair and a small investor consortium in July 2025.
Importantly, Mindflair will retain its exposure to CameraMatics through its interest in Sure Valley Ventures Fund 1, allowing it to participate in any future value creation as the company accelerates its growth plans.
In addition, Sure Ventures plc, the London-listed venture capital fund in which Mindflair owns a 24.4% stake, is expected to receive aggregate cash proceeds of €880,000 from the transaction.
CameraMatics has developed an artificial intelligence-powered connected fleet intelligence platform that helps transport operators improve driver safety, reduce risk and meet compliance requirements. The company serves nearly 1,000 fleet customers across the UK, Ireland, mainland Europe and the United States and employs more than 150 people across its international operations.
CameraMatics has secured contracts with major organisations including Royal Mail, Calor Gas, Wolseley, XPO and DFDS. In the United States, the company has expanded through deployments with Installed Building Products, supporting operations across more than 250 depots nationwide.
The new funding will be used to accelerate CameraMatics' commercial expansion, strengthen sales and customer support capabilities, invest further in artificial intelligence and sustainability-focused products, and support continued growth across North America and mainland Europe.
The transaction marks the sixth cash realisation from Sure Valley Ventures Fund 1 and follows the sale of Getvisibility in April 2025, which generated cash proceeds of €2.6 million for Mindflair.
Mindflair's Director Nicholas Lee said: "This is another excellent result for Mindflair which enables the Company to achieve a further significant cash realisation whilst still retaining an investment in an exciting company on a growth trajectory with new funding of up to €49 million.
"This also highlights the potential value within Mindflair's portfolio and the potential for further substantial returns from our underlying investments."
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This deal delivers meaningful cash proceeds to Mindflair while preserving exposure to one of its more mature portfolio companies. CameraMatics' ability to attract up to €49 million of new growth capital from institutional investors provides external validation of the business and could create further upside for Mindflair as the company expands internationally.