An investment firm managing various funds including the Midlands Engine Investment Fund and EIS funds.
The funding round was led by Mercia Ventures via the Midlands Engine Investment Fund II alongside Sure Valley Ventures.
"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."
The funding round was led by Mercia Ventures via the Midlands Engine Investment Fund II and backed by Sure Valley Ventures.
"Purple Transform’s mission is to unlock the full potential of technology to enhance safety, security, efficiency, and overall human well-being."
The University of Nottingham spinout secured the follow-on investment via fund manager Mercia Ventures.
"This funding from Midlands Engine Investment Fund II will take us one step further towards our mission to roll out our device and give new hope to people with Tourette’s. Having Mercia Ventures on board as a partner provides additional value, given its expertise in backing businesses that are developing new products and helping them gain entry to the US market."
The extended reality software provider raised £1m to support a major Middle East contract and expand its presence in the US.
"Luminous is used by the biggest brands in the industrial and manufacturing sectors who have the highest training standards. Our XR platform is paving the way for the adoption of Extended Reality training, providing a scalable, secure solution with many advanced features. The current funding round will now allow us to grow our sales and marketing as we expand globally."
Aramco Ventures, Dow and Kanoo Ventures led the financing round for the Cambridge monitoring technology firm.
"CorrosionRADAR is in a period of rapid growth, and we are leading the way with our predictive CUI monitoring solutions that safeguard critical assets and ensure the longevity of critical infrastructure."
