Purple Transform Series A Round, September 2024

Purple Transform, an AI-driven rail data analytics company, has raised £4.5£45 million in afunding to accelerate the development of its real-time data platform. The funding round was led by Mercia VenturesMercia Ventures throughvia the Midlands Engine Investment Fund II. Additional support also came fromand Sure Valley VenturesSure Valley Ventures. The company uses AIartificial intelligence to identifyprovide incidentsrail operators with actionable insights that occurenhance onthe railwayefficiency, linessafety, and intendreliability of torail systems. useWith the new funding, Purple Transform aims to supportexpand its platform’s capabilities and market reach, helping rail networks optimize their expansionperformance through predictive analytics. This -investment includingmarks a new technologycrucial centerstep in the Westcompany’s mission to revolutionize the Midlandsrail industry through cutting-edge data solutions.

Founded in 2021, Purple Transform's SiYtE system uses AI, machine learning, and computer vision to analyse data from CCTV cameras and IoT sensors which provide real-time alerts for potential risks. Their technology can be implemented in existing camera systems and is already installed across the UK rail network.

Their impact can already be seen in the report by the British Transport Police. They noted a 72% reduction in cycle thefts at one monitored site. Purple Transform is also working with Lancaster University to assess the system's role in suicide prevention on railway lines.

Alex Brown, former CEO of Cisco UK and Ireland, has been appointed Chair as part of the funding round. Gregory Butler, CEO and co-founder, said, “Having successfully deployed our technology in rail, we’re looking forward to expanding into critical national infrastructure, ports, and manufacturing among other new areas.”

Jonny Nixon of Mercia Ventures highlighted the company’s rapid growth and innovation: “Purple Transform brings together a very high-caliber team with deep knowledge of the rail industry and a strong culture of innovation.” Barry Downes, Managing Partner at Sure Valley Ventures, added, “This is exactly the type of business we like to back – founders with deep technology insights who harness AI for real-world benefits.”

The CEO of Purple Transform highlighted that the funding will enable the company to scale its technology and continue delivering advanced analytics to the rail industry. The platform leverages AI to monitor and predict system performance, ultimately leading to improved operational efficiency and safety in rail networks. The investment will also help Purple Transform expand into new markets and strengthen its position as a leader in rail data analytics.

In conclusion, Purple Transform’s £45 million funding round is a pivotal moment in its journey to revolutionize rail operations through AI-powered data analytics. With this investment, the company is well-positioned to expand its platform and provide innovative solutions that optimize the performance of rail systems globally. As the rail industry continues to evolve, Purple Transform’s technology is set to play a critical role in enhancing the efficiency and reliability of rail networks.

Purple Transform, an AI-driven data analytics company, has raised £4.5 million in a funding round led by Mercia Ventures through the Midlands Engine Investment Fund II. Additional support also came from Sure Valley Ventures. The company uses AI to identify incidents that occur on railway lines and intend to use the funding to support their expansion - including a new technology center in the West Midlands.

Founded in 2021, Purple Transform's SiYtE system uses AI, machine learning, and computer vision to analyse data from CCTV cameras and IoT sensors which provide real-time alerts for potential risks. Their technology can be implemented in existing camera systems and is already installed across the UK rail network.

Their impact can already be seen in the report by the British Transport Police. They noted a 72% reduction in cycle thefts at one monitored site. Purple Transform is also working with Lancaster University to assess the system's role in suicide prevention on railway lines.

Alex Brown, former CEO of Cisco UK and Ireland, has been appointed Chair as part of the funding round. Gregory Butler, CEO and co-founder, said, “Having successfully deployed our technology in rail, we’re looking forward to expanding into critical national infrastructure, ports, and manufacturing among other new areas.”

Jonny Nixon of Mercia Ventures highlighted the company’s rapid growth and innovation: “Purple Transform brings together a very high-caliber team with deep knowledge of the rail industry and a strong culture of innovation.” Barry Downes, Managing Partner at Sure Valley Ventures, added, “This is exactly the type of business we like to back – founders with deep technology insights who harness AI for real-world benefits.”