An Oxfordshire company that helps prevent trespassing on railway lines has secured £4.5 million to expand.
Purple Transform, an AI data analytics business, intends to use the funds to scale its operations and venture into other sectors.
The money was raised in a funding round led by Mercia Ventures via the Midlands Engine Investment Fund II, with backing from Sure Valley Ventures.
The firm, founded in 2021, has had a series of contract wins in the rail industry.
Its SiYtE system aggregates data from CCTV cameras, IoT sensors, and other sources, using AI, machine learning, and computer vision to provide actionable insights.
The system is currently installed across the rail network, with more than 900 cameras and sensors, and has been credited with reducing cycle thefts by 72 per cent over three months at one site.
Gregory Butler, co-founder and CEO, said: "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 company, which currently employs more than 50 staff, plans to open a new technology and logistics centre in the West Midlands, creating more jobs in the coming months.
The West Midlands site will also provide better access to major manufacturers and to engineering and IT graduates from the region’s universities.
As part of the funding round, Alex Brown, the former CEO of Cisco UK and Ireland, has been appointed as the company’s chairperson.
Jonny Nixon of Mercia Ventures said: "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."
Purple Transform brings together senior executives from Cisco, Network Rail, telecoms, and government.
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