Purple Transformation Group raises £4.5m from Mercia Ventures and Sure Valley Ventures to scale operations.
The funding round was led by Mercia Ventures via the Midlands Engine Investment Fund II and backed by Sure Valley Ventures.
Purple Transformation Group provides an AI data analytics platform that integrates with existing surveillance equipment to identify and prevent incidents. The company currently secures rail networks and is expanding its technology into other critical infrastructure sectors.
Purple Transformation Group has secured £4.5m in a funding round led by Mercia Ventures through the Midlands Engine Investment Fund II, with additional backing from Sure Valley Ventures. The capital will be deployed to accelerate operational scaling following recent contract wins, establish a new regional hub in the West Midlands, and roll out the company technology into new vertical markets.
The business offers the SiYtE platform, which processes information from closed-circuit television and sensors to detect security risks and safety hazards without requiring hardware replacements. Founded in 2021, the firm employs over 50 people and has appointed former Cisco executive Alex Brown as its chair as part of the transaction.
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."
Gregory Butler
Co-founder and CEO at Purple Transformation Group
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 Ventures
Use of funds
- 01Expand into international markets
- 02Scale operations
Investors
Categories
About the company
Purple Transformation Group
Purple Transformation Group develops artificial intelligence software to automate safety and security monitoring for critical infrastructure.