Pembroke VCT invests in telematics with Exeros

Jay Biring and Joe Williams, co-founders of Exeros Technologies

Venture capital trust Pembroke VCT has announced an investment in London-based Exeros Technologies, which designs and installs AI-powered camera and telematics systems for enterprise fleets, emergency services and local authorities.

Founded in 2009 by CEO Jay Biring and COO Joe Williams, Exeros has partnered with over 200 commercial fleets. Its core platform, VideMatics, analyses multi-camera video and vehicle data in real-time to detect risks such as fatigue or distraction. This helps fleets prevent incidents, reduce claims, meet compliance standards, and help drivers get home safely each day.

Customers include the AA, RAC, and National Highways, with fleets reporting up to 62 per cent fewer collisions and 58 per cent lower claim costs, alongside improved driver safety and reduced insurance premiums. Across the board, Exeros Technologies’ systems are typically said to deliver a positive return on investment within six to nine months through reduced accident costs and improved operational efficiency.

The new funding will support team growth and product innovation, as Exeros Technologies strengthens its UK position in a video telematics market expected to exceed $12 billion by 2030. Investment bank Cavendish PLC advised on the transaction.

The growth in the telematics sector is being propelled by increasing AI adoption and evolving safety regulations. Key safety initiatives designed to protect vulnerable road users, such as Transport for London’s Direct Vision Standard, are accelerating demand for more innovative fleet technologies.

Fred Ursell, head of investments at Pembroke Investment Managers, said: “Exeros is exactly the kind of founder-led business we like to back, one with deep industry credibility and clear potential to scale. Jay and Joe have built Exeros from the ground up, earning the trust of major fleet operators who are now benefiting from safer fleets powered by the latest AI technologies.

“As vehicle safety evolves towards AI-enabled and automated monitoring, Exeros Technologies is redefining how fleets manage safety and compliance, enhancing operations by giving drivers a crucial co-pilot in the cab that protects them and other road users alike. We’re excited to support the team as they accelerate software growth and continue setting new standards in intelligent fleet safety.”

Jay Biring, CEO and co-founder at Exeros Technologies, said: “We’re incredibly proud to have Pembroke on board as we enter this next phase of growth.

“With over 15 years of innovation specifically in vehicle camera technology, we’ve been one of the market-makers in fleet video telematics. This investment allows us to accelerate development of the next generation of AI-powered solutions, embedding intelligence directly at the edge of our vehicle cameras, within our VideMatics software platform, and across driver-facing applications.

“VideMatics will quickly become one of the leading video telematics platforms, redefining how fleets use data and video to improve safety, efficiency and compliance. With Pembroke’s track record in scaling exceptional technology companies, we’re excited about the road ahead.”