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Irish Times
25-05-2025
- Business
- Irish Times
Venture capital funding surges to record in first quarter
Irish small and medium business raised a record €533 million in venture capital in the first quarter of the year. But the figures from the Irish Venture Capital Association (IVCA) highlight an imbalance in the market, with the quarter dominated by larger deals and things looking less positive for smaller companies looking to raise less than €3 million. The life sciences sector was most in demand with funders, accounting for 45 per cent of the funding total in the quarter, according to the VenturePulse survey. That was followed by cybersecurity at 22 per cent, software at 9 per cent and fintech at 8 per cent. AI and machine learning accounted for 7 per cent. Among the five biggest deals were the €150 million raised by life sciences company Let's Get Checked, and the €115 million raised by cybersecurity company Tines. AI company, Protex AI, drone delivery firm, Manna, and medical technology manufacturer, Perfuze, completed the top five. READ MORE More than 80 per cent of the deal value was down to deals worth more than €10 million. Among individual deals, those in the €30 million and over category rose by almost 90 per cent to reach €296.8 million, while deals in the €10 million to €30 million range were up 184 per cent to €132 million. But while deals for more than €3 million in funding rose, those in the €1 million to €3 million category were down 5 per cent to €21.6 million, and those under €1 million were down 42 per cent to €3.6 million. Seed funding was also lower, falling 3 per cent. Overseas investors played a significant role in funding during the quarter, at 82 per cent compared to 71 per cent a year earlier. 'This is a doubled edged sword,' said Sarah-Jane Larkin, director general of the IVCA. 'While it reflects the high quality and potential of Irish tech firms and demand by overseas investors, it also reflects Ireland Inc's vulnerability to international influences if the tide goes out.' That is of particular concern given the tariffs introduced by US president Donald Trump and others threatened, which have injected considerable uncertainty into the global markets. The venture capital figures cover the period before US 'liberation day' on April 2nd. Gerry Maguire, chairman of the IVCA, said there was anecdotal evidence that uncertainty and caution is likely to show up in following quarters, especially among overseas investors. The VenturePulse survey is compiled from information supplied internally by members of the IVCA and from published information where the funding included non-IVCA members.
Yahoo
09-05-2025
- Business
- Yahoo
DHL seeks to transform life science and health care logistics through AI
CHICAGO – Innovations in logistics technologies took center stage at the recent DHL Media Day, held at one of its four Innovation Centers. The event put particular emphasis on how artificial intelligence is revolutionizing supply chains across industries. When it comes to the life science and health care industries, where reliability, compliance and precision are crucial, these advancements represent opportunities to enhance patient outcomes while optimizing operational efficiency. In April, DHL, a Germany-based global logistics company, announced a $2.2 billion investment over the next five years to upgrade and prioritize its logistics capabilities and footprint in the life science and health care sector. 'When there is significant investment in that industry, it makes it easier to go out and find partners to help innovate,' Klaus Dohrmann, head of innovation and trend research, said at the Chicago event. 'The advancements allow us to lean on our internal expertise and identify strong use cases for new innovations.' DHL has dedicated significant resources to leverage its global network to address the specific requirements of health care products and pharmaceutical supply chains. Among 40 trends identified in DHL's Logistics Trend Radar, AI applications emerged as particularly relevant to health care logistics. The use of AI in the life sciences supply chain addresses multiple critical areas: The Protex AI partnership offers insights applicable to health care environments. While initially focused on general workplace safety, this AI-powered computer vision technology demonstrates how visual monitoring systems can identify risks and enhance compliance – critical factors in pharmaceutical and medical production facilities where maintaining sterile conditions and following strict protocols is essential. Protex AI's system uses computer vision and AI to analyze data and generate proactive safety events. These events can include use cases like near misses or noncompliance with procedures. The technology actively observes and assesses various parameters such as forklift speed, adherence to predefined walkways, proper use of personal protective equipment and identification of obstructed pathways. The innovation process in health care contexts Ernesto Camacho's, senior innovation manager, overview of DHL's five-stage innovation process provided a framework for understanding how the company evaluates and implements new technologies in specialized sectors like health care: Discovery: Identifying pain points in health care logistics through interviews with hospital administrators, pharmaceutical manufacturers and clinical staff. Solution identification: Scouting AI technologies with potential applications in health care supply chains. Fit assessment: Evaluating solutions against strict health care compliance requirements and ROI potential. Pilot testing: Conducting limited-scale tests in health care environments. Recommendation: Determining whether solutions meet the stringent requirements for health care deployment. This methodical approach aims to ensure that innovations address real operational challenges while meeting the high standards required in health care environments, Camacho said. Implementation challenges and change management While the potential benefits of AI in health care logistics are substantial, successful implementation must be accompanied by thoughtful change management and staff engagement according to DHL. The importance of this people-centric approach is magnified in health care settings where clinical staff, laboratory technicians and logistics personnel must work together seamlessly. DHL's is therefore focusing on collaborative development with technology partners to ensure that solutions are adapted to specific operational contexts rather than implemented as one-size-fits-all technologies. Asked about the innovation the team was proudest of over the past few years, Dohrmann said, 'The advancement of IoT trackers: the evolution the devices have taken from more than just location and temperature to now shock notification, humidity, light exposure and CO2 emissions.' Emilia Endara, innovation engagement manager, said hers was 'The network adaptability. Being able to pick up medicine outside its normal route. Having the ability to take a temperature-tracking device and know that medicine is safe for use after it leaves the safety of the controlled environment. That in addition to the colleagues on the front lines of the deliveries. The fact that so many packages can be handled without failure will always be a highlight.' The focus on sustainability, highlighted as a key trend in DHL's research, also has particular relevance for health care logistics. Sustainability is top of mind for most countries. For example, the European Commission notes that 'The European Climate Law writes into law the goal set out in the European Green Deal for Europe's economy and society to become climate-neutral by 2050. The law also sets the intermediate target of reducing net greenhouse gas emissions by at least 55% by 2030, compared to 1990 levels.' As global health care and life science companies continue to move forward, sustainability has returned to the front of the conversation in a major way for the cold chain as refrigerants and coolants get phased out in favor of cleaner alternatives. As these technologies continue to evolve, their integration into health care logistics operations will likely accelerate, driven by the dual imperatives of improving patient outcomes and controlling health care costs. DHL is pursuing a systematic approach to innovation that balances technological advancement with practical implementation, potentially providing a model for how complex organizations can successfully adopt AI within specialized supply chains. The post DHL seeks to transform life science and health care logistics through AI appeared first on FreightWaves.
Globe and Mail
12-02-2025
- Business
- Globe and Mail
Protex AI Secures $36M Series B to Power Safer and Smarter Industrial Workplaces with AI
Protex AI has secured $36M in an oversubscribed Series B round, led by Hedosophia with participation from existing investors. This funding will accelerate its U.S. expansion and enhance its AI-driven safety solutions for global industrial workplaces. Dublin City, Ireland--(Newsfile Corp. - February 12, 2025) - Protex AI, a global leader in AI-driven workplace safety technology, secured an oversubscribed $36 million Series B funding round, led by Hedosophia with participation from existing investors. This latest investment comes as Protex AI accelerates its expansion in the U.S. to revolutionize worker safety on a global scale through computer vision and AI. "As global industries grapple with tighter regulations and increasing operational complexities, safety has emerged as a critical lever for growth and resilience," said Dan Hobbs, CEO of Protex AI. "The safety market is evolving rapidly, with organizations prioritizing automation, efficiency, and employee well-being. 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." Urgent Need for Proactive Safety Solutions According to the Occupational Safety and Health Administration, 2.4% of workers in the U.S. experience safety incidents annually, with 5,200 worker fatalities occurring in 2023. Creating safer workplaces is a priority for industrial sites, making it critical for a proactive approach to preventing incidents before they occur. Fortune 500 enterprises are partnering with Protex AI to achieve measurable safety improvements, including an average 64% reduction in risk within just three months of deployment. Protex AI's privacy-first architecture, featuring advanced anonymization and cutting-edge edge computing, ensures data security while empowering clients to address safety challenges proactively. The company has also launched its generative AI tool, Protex Copilot, which empowers safety professionals to instantly analyze vast datasets, extract actionable insights, and deliver tailored recommendations. This innovative solution drives cutting-edge safety programs designed to mitigate risks, prevent accidents, and reduce fatalities in industrial environments. Scaling Globally to Meet Demand Protex AI has grown into a global leader, serving some of the largest Fortune 500 enterprises across manufacturing, logistics, and life sciences. As a global safety partner, the company serves clients spanning over 20 countries across North America, Europe, Asia-Pacific, and Latin America. Protex AI was also recently named a Gartner Cool Vendor for 2024. North America has been Protex AI's largest market for the past two years. The latest funding round will allow the company to expand its U.S. presence and focus on bringing top-tier talent into the fold to continue driving innovation and enabling Protex AI's growth. Cannot view this video? Visit: About the company: At Protex AI, we're building a safer, smarter industrial workplace with an intelligent operating system that redefines how facilities operate. Our AI-powered technology is enabling businesses to gain greater visibility of unsafe behaviours in their facilities. The privacy-preserving platform plugs into existing CCTV infrastructure and uses its computer vision technologies to capture unsafe events autonomously in settings such as warehouses and manufacturing facilities. To view the source version of this press release, please visit
