Rail tech start-up on track for expansion after £2m private equity investment

The company behind a wearable safety solution, which helps to improve the safety of railway staff and prevent avoidable incidents, has raised £2m from Praetura Ventures and Blackfinch Ventures, as it aims to expand into new sectors and global markets.

Lincoln-based Tended has created a geospatial positioning device to alert rail workers when they exit designated safe zones, allowing them to maintain a safe distance from onsite hazards, such as open lines and in-use heavy machinery.

Train companies are often fined millions for track deaths and near misses. And while near misses are at record lows, they do still occur, with 22 taking place in the 23/24 fiscal year, according to the Rail Safety and Standards Board’s latest Annual Health and Safety Report.

To improve safety across the board, Tended, which has recently secured a seven-figure contract with Network Rail, uses rail industry geospatial data to generate positioning information with a high level of precision. This replaces traditional and unscalable ways of ensuring worker safety, including paper-based diagrams and verbal briefings.

Another major customer is Siemens Mobility, which has been working with Tended for the past two years and is now embedding Tended’s geofencing technology nationally into its business-as-usual processes. The tech giant has also been working with Tended to develop new functionality that will play an integral role in worksite management.

The £2m round has been led by Praetura’s EIS Growth Fund, with Tended also raising money from its existing investor Blackfinch Ventures and angel investors. The funding will be used to strengthen the business’ IP portfolio, release the next generation of its wearable device and increase its headcount across sales and engineering.

Praetura partner Andy Barrow joins Tended’s board, alongside Ijaz Khan from Blackfinch Ventures.

Since raising the investment, Tended has also begun its expansion into Ireland, Northern Ireland and the Netherlands, with the business working alongside influential leaders within the rail sector – including Irish Rail and Translink – to digitise worksites and put safety at the forefront.

Leo Scott Smith, CEO and founder of Tended, said: “Our mission is to put an end to preventable accidents and fatalities. Working with top-tier investors and partners, we’re pushing the boundaries with geospatial technology and developing some exciting new capabilities that are moving us closer to this mission. These include Blackfinch and our new investor Praetura, and their backing will enable us to accelerate our company growth and expansion into new markets and territories.

“Expanding our geographical footprint will enable us to bring our technology to new customers and industries that can greatly benefit from our solutions. We’re excited to capitalise on these new opportunities while continuing to drive the business forward.”

Barrow said: “Railway infrastructure relies on constant maintenance and the continued efforts of trackside staff to ensure services operate smoothly and safely. This is why companies must do everything in their power to protect those who work on the railways.

“Tended instantly inspired us with its approach to advanced geospatial technology, which is already having a profound impact on the safety of trackside workers. This investment also marks our latest foray into transport and using technology to improve infrastructure. We’re looking forward to working closely with Leo and the team, living by our ‘more than money’ ethos to help the business attract more major clients and contracts in the UK and around the world.”

Richard Harley, ventures director at Blackfinch Ventures, said: “Blackfinch Ventures have been working closely with Tended for several years now, and have seen the team pivot twice as they adapt their solution and capabilities to the environments and sectors that will benefit from their technology. The company has been awarded multiple long duration contracts, strengthened its expertise and now has a unique position within the rail safety network. We are delighted to be part of this continued evolution and growth that’s helping to protect workers around the world.”