Mercia investment boosts rail safety tech firm

The AI data analytics company, Purple Transform, known for its contributions to improving rail safety by mitigating incidents like theft, trespass, and antisocial behaviour, has successfully secured £4.5 million in a funding round. The investment was orchestrated by Mercia Ventures through the Midlands Engine Investment Fund II, with additional support from Sure Valley Ventures.

This financial influx will facilitate the expansion of Purple Transform’s operations in the West Midlands and beyond, catalysed by a sequence of recent contract acquisitions in the rail sector. The firm intends to broaden its technological deployment across various industries.

Central to Purple Transform’s operations is its SiYtE system, which consolidates data from diverse sources including CCTV, IoT sensors, and more, employing AI, machine learning, and computer vision to scrutinise this data and provide actionable intelligence. This system enhances surveillance across existing camera networks without necessitating hardware upgrades.

Established in 2021 by a group of seasoned professionals from Cisco, Network Rail, telecommunications, and governmental sectors, Purple Transform has its technology operational across the rail network, enhancing safety and security through its extensive camera and sensor deployment. The system’s efficacy is notable, having significantly reduced cycle thefts and aiding in numerous legal actions, as noted by British Transport Police.

Looking ahead, the Oxfordshire-based company is poised to inaugurate a new technology and logistics hub in the West Midlands, promising new employment opportunities and greater proximity to key industrial partners and academic institutions. This strategic expansion is anticipated to catalyse further growth and innovation within the company.

Alex Brown, former CEO of Cisco UK and Ireland, has joined Purple Transform as Chair of the board following this funding round.

Gregory Butler, co-founder and CEO of Purple Transform, expressed, “Having successfully deployed our technology in rail, which is a highly complex environment, we’re looking forward to expanding into critical national infrastructure, ports, and manufacturing among other new areas.”

Jonny Nixon of Mercia Ventures remarked on the company’s rapid growth and significant contract wins, both domestically and internationally, highlighting its burgeoning influence within and beyond the rail industry.

Barry Downes of Sure Valley Ventures praised the company’s utilisation of AI to deliver tangible benefits across various sectors, underscoring the impactful nature of Purple Transform’s work.

Image source: Mercia