Purple Transform, an AI data analytics company focused on enhancing safety by preventing incidents like theft, trespassing, and antisocial behavior on railway lines, has raised £4.5 million in a funding round led by Mercia Ventures through the Midlands Engine Investment Fund II, with backing from Sure Valley Ventures.
The funding will help the company expand its activities in the rail industry, deploy its technology to other sectors, and grow its operations in the West Midlands. Purple Transform’s SiYtE system, which uses AI, machine learning, and computer vision to analyze data from CCTV cameras and IoT sensors, provides real-time alerts on potential risks. The system works with existing camera infrastructure, reducing the need for new equipment.
Founded in 2021, the company has already deployed its technology across the rail network, utilizing over 900 cameras and sensors to detect safety hazards and reduce crime. Its system has significantly lowered incidents like cycle theft and has been instrumental in supporting law enforcement.
With over 50 employees, Purple Transform will use the investment to open a new technology and logistics center in the West Midlands, creating more jobs and targeting sectors like critical infrastructure and manufacturing. Former Cisco UK & Ireland CEO Alex Brown has joined as Chair, as the company continues to scale and expand its reach.
Featured image: Credit: Purple Transform
