In April 2019, we did not see a shortage of funds in the West of England as in the earlier months. In fact, just eight companies raised £ 4.5m in equity investment between them in April. From polymers to scorching plants to financial services and bubble wrap, there was a really wide range of companies attracting equity investment. Only three of those eight companies have disclosed their investment with public announcements, so here’s a quick run down:
- Anophyte There are Bristol-based biotech entrepreneurs who have developed technology to incorporate graphene into Li-ion batteries to improve battery life and charging time while reducing their costs. They operate from Unit DX in St Philips and have recently raised £ 1.2m led by Zero Carbon Capital and are strongly supported by the Bristol Private Equity Club. Read more about the deal here in this recent Business Leader article.
- Albotherm Bristol University’s spin-out company is developing passive cooling technologies to reduce energy use in agriculture and the construction sector. He has recently announced completion of a seed funding round of £ 370k. Under the leadership of two female founders, Albotherm received an Innovate Funding grant of £ 210k in 2020 and was particularly supported by the Innovate Age Program with their growth and intellectual property strategy.
- Finally, bath based innocent man, A B2B sustainability matchmaking platform for food and beverage SMEs, recently closed £ 142K in pre-seed funding. A portion of the investment round was led by Innovate UK Sustainable Innovation Fund.
You may have also heard us mentioning the Silicon Gorge pitch competition, in which 11 companies raised £ 2m pitches in front of a virtual room of investors in April. The 11 finalists had surpassed the competition by 50 others and ranged from tech-based startups to fragrant technology to smart sunglasses and self-publishing video games to increasing crop yields. Learn more about the finalists here.
In the wider South West, as usual, there was more good news to report, and 10 companies raised almost £ 1.8m between them in equity funding. However, our research suggests that none of these stories have been included in the press, so I can tell you very little about them. I don’t think anyone would have any objection if I were to mention that most were in beverage-related companies – from soft drinks to alcohol and at different points in the supply chain. One deal that was publicly mentioned was This article From Newable Which tells us that One of Dean-based Gnomeki was one of a handful of Southwest businesses to receive funding from Newable last month.
This article has been written as part of the Investment Catalyst Program (IAP) in the West of England. The event is run by TechSpark and is kindly sponsored by TLT LLP, Delaware, West of England Combined Authority, UWE, Sanderson, Engine Shed and Rocketmakers. Learn more about IAP.
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