Perpetuum mobilises investors for $3.9m

Aug 7, 2018 •

Rail data analytics technology developer Perpetuum has added Rail Supply Growth Fund to a group of shareholders that already includes IP Group and Parkwalk Advisors.

Perpetuum, a UK-based rail data analytics technology spinout from University of Southampton, has received £2m ($3.9m) in funding from the UK government-backed Rail Supply Growth Fund, according to Insider Media.

Rail Supply Growth Fund is managed on the government’s behalf by Finance Birmingham, a fund manager owned by Birmingham City Council.

Founded in 2004, Perpetuum has created a rail condition monitoring system which deploys on-track sensors to help operators assess the calibre of their services based on parameters including the…

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