FundingPurple TransformMercia VenturesSure Valley VenturesVideosurveillance
Image source: Purple Transform
Published on September 13, 2024
UK-based AI startup Purple Transform has raised £4.5 million in a funding round led by Mercia Ventures and Sure Valley Ventures. The funds will help scale its AI-powered SiYtE system, which prevents trespass on rail lines and detects safety hazards by aggregating data from CCTV cameras, IoT sensors, and other sources.
SiYtE uses advanced AI, machine learning, and computer vision algorithms to analyze real-time data streams. The system can detect unauthorized access, identify safety hazards, and provide actionable insights by continuously monitoring the environment. It uses predictive analytics to alert staff to potential risks, such as people trespassing on tracks or vehicles at level crossings. The system’s capability to integrate with existing camera infrastructure should mean no need for costly equipment upgrades.
Installed across the rail network with over 900 cameras and sensors, SiYtE can spot issues like crime, trespass, and equipment tampering. This scalable technology is adaptable to other sectors, including ports and manufacturing, enhancing safety, security, and operational efficiency. The investment will also support expanding operations in the West Midlands, with plans for a new technology and logistics center and new job creation.
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