Protex AI secures $36 million for US market expansion

The United States has become a significant target for Irish start-ups aiming for international growth. With strong venture capital investment, the country offers a fertile ground for expansion, especially for technology and innovation-driven companies. Taoiseach Micheál Martin's visit to the US around St. Patrick’s Day highlights the importance of fostering business relations across the Atlantic, particularly in fields such as artificial intelligence, proptech, and e-commerce. Notably, Irish start-ups like Protex AI, Offr, and Wayflyer have successfully navigated their entry into the competitive US market, showing resilience and adaptability in the face of challenges. Protex AI, founded in 2021, has seen rapid growth with major funding round successes—$18 million last year followed by an additional $36 million, aimed at expanding its operations in the US. This venture focuses on enhancing workplace safety with an AI platform that leverages computer vision technology to autonomously detect unsafe events. Their continuous support from investors demonstrates confidence in their innovative approach to safety management. Offr, another promising company, is digitizing real estate transactions and raised €2.1 million in early 2023, which it will use to further penetrate the US market. With backing from significant US venture capital firms, Offr is poised to reshape the property buying and selling process. A spin-out from University College Dublin, Output Sports operates within the elite sports domain, developing data services tailored for professional teams. Recognizing the potential in the US sports industry, Output has articulated intention to engage with American markets. Meanwhile, Swoop earned accolades as the fastest-growing tech company in Ireland for 2023 and continues to pursue substantial investment to support its scalable growth ambitions internationally, notably within the US. This underscores the strategic shift many Irish enterprises are making towards the American market, seeking not only financial growth but also global influence. Last but not least, ZeroMission represents the growing trend of sustainability-focused businesses. Launched in 2022, this company specializes in software for fleet management tailored to commercial electric vehicle operations. Their initial funding of $3 million indicates a strong commitment to build upon the increasing demand for environmentally responsible fleet solutions, further enhanced by collaborations with US-based transit systems. The combination of these dynamic Irish start-ups showcases the diverse industries thriving in the US as these companies embrace the opportunities of expansion while adapting to both markets’ unique challenges and demands.