10n2 Technologies Confirms Investment of $1 million by Enterprise Ireland.
An Irish mobile technology company, 10n2 Technologies, has announced that Enterprise Ireland has invested in their company. This is part of an overall $1 million investment led by Cranberry Capital, which now values the organisation at $30 million.
10n2 was established in 2009 and now has offices in Dublin, Boston and Dubai. Earlier this year it launched an anti-distracted driving software which is now available in the Irish marketplace. The new technology prevents drivers’ texting or browsing the internet on their smartphones while driving. The company maintains that it is designed to save lives by promoting safer driving, helping to enforce current driving laws and protecting drivers from the dangers of driving when attention is diverted from the road due to the use of smart phones. 10n2 is also developing technology to monitor speed by road classification and other driver safety systems.
Tom Cusack, Enterprise Ireland Manager High Potential Start-ups said: “Enterprise Ireland has worked closely with 10n2 and is delighted to support this highly innovative export-oriented company. It is very encouraging to see an Irish company developing a world-class product which will help tackle the risks associated with distracted driving. 10n2 is an example of the innovative, creative and entrepreneurial companies Enterprise Ireland is keen to support, and we look forward to continuing to work with 10n2 to further develop their international business.”
Ciaran Hynes, CEO, 10n2 Technologies added: “We are delighted to get the support and backing of Enterprise Ireland, which further strengthens our position in the marketplace internationally. Our technology saves lives. It is also the only software of its kind in the market that effectively differentiates between a passenger and driver by using our patent-pending “Attention Verification Test”. We know our technology will reduce accidents and fatalities on our roads. We are also excited about our other driver safety technologies coming down the track.”
10n2’s new products include BizProtect™ and OneProtect™, which block the use of mobile devices while driving. BizProtect™ has been developed for businesses looking to protect their employees, while OneProtect™ is for use by consumers. Both are currently available in Android and Blackberry versions.
Visit www.10n2tek.com for additional information.
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