Purple Transform funding news – UK-based Purple Transform Secures £4.5 Million in Funding

The company's platform, SiYtE, assists in locating and stopping antisocial behavior, theft, and trespassing on railroad tracks. It gathers information from IoT sensors, CCTV cameras, and other sources. AI, machine learning, and computer vision are then used to analyze the information and produce insights that may be put to use.

SiYtE keeps a watchful eye on every camera and warns employees of any hazards. There's no need to update existing equipment because it works with previous cameras.

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The company is collaborating with Lancaster University to evaluate the system's effectiveness in preventing suicides. The system has notified transit police of multiple cases. It resulted in 13 charges and a 72% reduction in cycle thefts during a three-month period at one facility, according to British Transport Police.

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.”

Jonny Nixon of Mercia Ventures added: “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.”

The company has appointed Alex Brown, the former CEO of Cisco UK and Ireland, as Chair as part of the funding round.

With the help of the finance, the company will be able to extend its operations in the West Midlands, roll out its technology in other industries, and ramp up its operations after winning a number of contracts in the rail sector.

About Purple Transform

Purple Transform, which was founded in 2021, brings together senior executives from government, telecom, Network Rail, and Cisco. With more than 900 cameras and sensors, its technology is currently deployed throughout the train network for uses like identifying individuals or potential safety risks on the tracks, decreasing crime, identifying cars at level crossings, and safeguarding equipment at distant locations.