Irish accident prevention technology firm, Provizio, has raised €6.2m in seed investment.

The company will use the money to grow its artificial intelligence driven platform.

Founded by Barry Lunn, it aims to revolutionise car safety through the use of a new sensor based system than can perceive, predict and prevent car accidents in real time and beyond what can be physically seen at the time.

Among those contributing to the round are founder of Autonomous Stuff, Bobby Hambrick, as well as the founders of Irish computer vision chip maker Movidius which was bought by Intel.

The European Innovation Council and ACT Venture Capital also contributed.

"We have put together an incredible team that is growing daily," said Mr Lunn, who is also CEO of the company.

"AI is the future of automotive accident prevention and Provizio 5D radars with AI on-the-edge are the first step towards that goal."

There are currently 1.35m road deaths each year and 50m injuries at a cost of €2trn.

94% of those accidents are caused by human error and current emergency braking systems can only measure approximately 40m ahead or 1 second reaction time at motorway speeds, the company says. 

Provizio's Accident Prevention Technology Platform aims to offer a ten-fold improvement in that capability.

"It’s not so often a team of this calibre, with a market of this scale and a mission of this magnitude comes about so I’m delighted to have been an advisor from the outset and now an investor in the future of Provizio," said Bobby Hambrick.

Also involved in Provizio are Dr Scott Thayer and Prof Jeff Mishler, formerly of Carnegie Mellon robotics.

Elsewhere, tour and activity industry software provider, TripAdmit, has raised €500,000 in seed capital.

The company, founded by John Maguire and Andrew Kelly, is being backed by international and Irish investors, including Enterprise Ireland.

TripAdmit develops online sales and distribution software for tour and activity providers, including live availability for attractions around the globe, covering 50,000 experiences in more than 100 countries.
"Securing such a significant amount of investment in the middle of a pandemic has been challenging, but the response from our investors has been amazing," said Mr Maguire.

"This announcement is testament to the team here who have developed our powerful booking software and the potential of this business when tours and activities re-open around the world."