Business Irish

Saturday 30 August 2014

We track the ones to watch... Ciaran Hynes

ROISIN BURKE

Published 02/12/2012 | 05:00

  • Share

CIARAN Hynes's new business epiphany came after watching Oprah. 10n2 Technologies, now valued at €23m by current funding, makes software that stops 'distracted driving'.

  • Share
  • Go To

While in the States, Hynes saw an Oprah Winfrey show dealing with the dangers of people using their mobiles while driving, a problem which has come to match drink driving there.

"With smart phones now being mini computers, it's just going to get worse and worse. I thought, there has to be a solution," explains Hynes.

Its core target markets are corporates and institutions that want to ensure safe driving practice in employees. The software kicks in once a driver reaches over 15km an hour and stops a phone being used to text, email or surf the net, while passengers still have full phone access. Standard of driving – speeding, swerving and hard braking – can also be monitored, something that has caught the attention of insurance companies.

10n2 is backed by Cranberry Capital, a VC owned by wealthy American Arunas Chesonis, who sold his company for €1.8bn last year. It has offices in Dublin, Boston and Dubai.

The firm is seeking to raise further funding of €5m, with Enterprise Ireland committing €1m to that.

Sunday Indo Business

Read More

Editors Choice

Also in Business