Purple Transform secures £4.5m from Mercia Ventures and Sure Valley Ventures to expand its rail safety technology.
The funding round was led by Mercia Ventures via the Midlands Engine Investment Fund II alongside Sure Valley Ventures.
Share allotment filed at Companies House
Purple Transform provides data analytics and artificial intelligence software designed to improve safety and security across critical infrastructure networks.
Purple Transform has secured £4.5m in a funding round led by Mercia Ventures via the Midlands Engine Investment Fund II, with participation from Sure Valley Ventures. The company will use the capital to scale its operations following recent contract wins, open a new technology and logistics centre in the West Midlands, and expand its artificial intelligence technology into new sectors such as manufacturing and ports.
The startup was founded in 2021 by Gregory Butler and deploys its SiYtE platform to aggregate and analyse data from existing Closed Circuit Television cameras and Internet of Things sensors. The technology operates across the British rail network to detect safety hazards, reduce crime, and protect remote equipment. In connection with the funding, former Cisco UK and Ireland chief executive Alex Brown has joined the company as Chair.
From the founder
"Purple Transform’s mission is to unlock the full potential of technology to enhance safety, security, efficiency, and overall human well-being. 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."
Gregory Butler
Co-founder and CEO at Purple Transform
Investor perspective
"Purple Transform brings together a very high-calibre team with an in-depth knowledge of the rail industry and a strong culture of innovation. The company gained early traction and is now growing rapidly and winning significant contracts in the UK and beyond. This funding will help it to establish itself in the Midlands as the leader in the rail sector and expand into other industries."
Jonny Nixon
Mercia
Use of funds
- 01Expand into international markets
- 02Grow the team
- 03Build out infrastructure
Investors
About the company
Purple Transform
Purple Transform develops artificial intelligence software that analyses camera and sensor feeds to prevent accidents on railway lines.