Purple Transform secures GBP £4.5m to expand AI analytics reach

Data analytics firm Purple Transform has raised GBP £4.5 million in a funding round led by Mercia Ventures via the Midlands Engine Investment Fund II, with additional backing from Sure Valley Ventures. The injection of capital will enable the company to expand its activities, venture into new sectors, and enhance its operations in the West Midlands, according to a statement from the company.

Specialising in AI data analytics, the company currently helps to identify and prevent incidents such as theft, trespassing, and antisocial behaviour on railway lines. Its proprietary system, SiYtE, aggregates data from CCTV cameras, IoT sensors, and other sources to provide real-time, actionable insights. SiYtE can also function with older cameras, eliminating the need for equipment replacement.

Founded in 2021, Purple Transform comprises senior executives from Cisco, Network Rail, telecommunications, and government sectors. Presently, its technology is integrated across the rail network through over 900 cameras and sensors. The system is deployed for detecting individuals or hazards on the rail lines, preventing crime, monitoring vehicles at level crossings, and safeguarding equipment at remote sites.

The efficacy of its system is highlighted by various incidents reported to transport police, including a notable reduction in cycle theft by 72% over a three-month period at one site, leading to 13 prosecutions. Additionally, the firm is collaborating with Lancaster University to evaluate its impact on suicide prevention. British Transport Police have endorsed the system for its significant contributions.

The new funding will allow Purple Transform to set up a technology and logistics centre in the West Midlands, a move expected to create numerous jobs in the region. The location also increases the company's proximity to major manufacturers, a key target market, and offers access to engineering and IT graduates from local universities.

As part of the funding round, Alex Brown, former CEO of Cisco UK and Ireland, has been appointed as the company's Chair. Gregory Butler, co-founder and CEO, commented, "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."

Jonny Nixon of Mercia Ventures remarked, "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."

Barry Downes, Managing Partner at Sure Valley Ventures added, "As an AI Fund, this is exactly the type of business we like to back; founders with deep technology insights who then harness the power and utility of AI to provide real world practical benefits. What Greg and the team at Purple Transform are doing will be very impactful; not just in the rail sector but across a whole range of industries."