Purple Transform Raises £4.5M to Expand AI-Powered Incident Prevention Platform
Purple Transform has positioned itself as a leader in AI-driven incident prevention, primarily in the rail industry.
Company Name: Purple Transform
Location: Oxford, UK
Sector: AI, Data Analytics, Incident Prevention
Funding Details: Raised £4.5M in funding, led by Mercia Ventures via the Midlands Engine Investment Fund II, with support from Sure Valley Ventures.
Purpose of Investment: The funds will be used to scale up Purple Transform's activities, deploy its technology in new sectors, and expand operations in the West Midlands, following a series of contract wins in the rail industry.
Product and Innovation: Purple Transform provides an AI-powered data analytics platform designed to identify and prevent incidents such as theft, trespass, and antisocial behavior on railway lines. The platform, equipped with over 900 cameras and sensors across the rail network, offers solutions for detecting people and safety hazards, spotting vehicles at level crossings, and protecting remote site equipment.
Purple Transform's SiYtE system aggregates data from CCTV cameras, IoT sensors, and other sources, using AI, machine learning, and computer vision to generate actionable insights. It enhances situational awareness and alerts staff to potential risks. SiYtE can also integrate with older camera systems, eliminating the need for costly equipment replacements.
About the Company: Led by CEO Gregory Butler, Purple Transform has positioned itself as a leader in AI-driven incident prevention, primarily in the rail industry. The company is now poised to extend its technology to other sectors, leveraging its data-driven approach to enhance safety and security in a wide range of applications.