EcoOnline partners with and invests in innovative safety technology start-up Protex AI
Oslo 30 June 2021: EcoOnline Holding AS (“EcoOnline”) has acquired a minority ownership stake and entered a strategic partnership with Protex AI, an AI vision-based software company based in Limerick, Ireland, which is developing a ground-breaking CCTV technology for real-time monitoring of workplace risks.
“In EcoOnline, we are always searching for better ways to use innovative technology to create healthier and safer work environments for our customers. By teaming up with Protex AI, we get access to early-phase development of innovative safety technology which complements our existing platform well,” said Göran Lindö, CEO of EcoOnline.
“By using CCTV infrastructure coupled with cloud-based technologies, customers in warehouses, factories and ports can continuously audit and improve safety procedures in real time. Although early stage, this investment compliments our ongoing initiatives to further expand and improve the solutions we offer to identify, track, and eliminate risk at work,” he added.
Protex AI product vision is the culmination of years of university research and was solely owned by the two co-founders, CEO Dan Hobbs and CTO Ciaran O’Meara. They have now raised sufficient capital to bring their computer vision-based software to the market as a Vision as a Service (VaaS).
An initial BETA product has been developed and is currently being trialed by selected companies in the shipping and logistics industry, a manufacturer of engineered wood paneling, and a provider of quality fresh and frozen food. In a first phase, EcoOnline will support Protex AI in its BETA introductions and assessments. In parallel, a framework will be established for offering the Protex AI solutions to EcoOnline’s existing customer base.
“We couldn't be happier to have EcoOnline on board as both an investor and partner. Their knowledge, scale and focus on innovation will greatly benefit Protex AI as we aim to proactively mitigate risk.” said Dan Hobbs, co-founder and CEO of Protex AI.
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This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
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About EcoOnline AS
EcoOnline is a European EHSQ SaaS market leader dedicated to developing software creating safer & sustainable workplaces while ensuring compliance and environmental sustainability. EcoOnline has offered a positive contribution to customers and society since its inception and is a leader in the Nordics, UK and Ireland with customers also in US and many other countries. The company has a clear history of successfully acquiring and integrating companies with same level of employee engagement as EcoOnline.
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