The Investment Activator Programme (IAP) has just released the mid-year South West equity investment report, providing the latest insights into which companies and sectors are taking 2023 by storm, with indications on how the rest of the year is set to look.

The IAP is a pioneering collaboration between private and public sector organisations which exists to help catalyse investment into fast-growing startups in the South West of England and South Wales.

Back in January 2022, the IAP published its first annual report on equity investment in the South West of England, highlighting the highest fundraisings from 2021 and the companies to look out for in the region. 

In January 2023 we expanded this to include South Wales, and the 2022 figures now show an increase since we initially reported, with a total of £1,01bn invested into the region during this period.

Looking at the figures up to June 2023 we’re currently tracking slightly shy of hitting the 2022 amount of £1bn however with a cool £230m raised by Netomnia in the first half of the year, which adds to the £295m they raised last year, we’re very close!

Tracking investment trends

The report illustrates that in the first 6 months of 2023 companies in the South West have raised just under half a billion, coming in at £496m. This falls short of 2022’s figures, whereby at the same point last year the region was boasting a total of £633m raised. 

Coming in top of the 2023 leaderboard so far is Gloucestershire-based Netomnia, banking in £230m to roll out its full-fibre network, bringing ultra-fast broadband to more communities. Their offering is set to provide speeds of up to 10 Gbps, significantly quicker than the current average of 100 Mbps. Collaborating with YouFibre, Netomnia is committed to providing reliable and high-speed internet access to people across the UK, ensuring that everyone can benefit from this advanced technology regardless of their location.

Abby Frear, Investment Activator for the IAP tells us, “Analysing South West investment in 2023 as we move into August has been extremely interesting. Although the region has impressively raised almost half a billion in equity investment so far, it’s revealing that 46% of this total is comprised of a single raise. This suggests that trends are changing in line with national patterns. Some fantastic organisations have made big waves already; we can’t wait to see how the rest of the year pans out.”

For the full picture, you can download your copy of the report here. Inside you’ll find information on how 2023 is comparing to 2022, what sectors are dominating investment, which companies are raising the most funds right now, and a breakdown of how much has been raised regionally across the South West.

If you’re interested in these findings, we have another report that we’re sure you’ll love. Our inaugural State of Play report both celebrates the recent achievements of those within the cluster, whilst delving into how the cluster could be improved, as both Bristol and Bath are beginning to feel the growing pains of ecosystem maturity.

This article is written as part of the Investment Activator Programme (IAP) in the West of England. This programme is run by TechSPARK and is kindly sponsored by TLT LLP, delaware, West of England Combined Authority, UWE, Sanderson, Engine Shed and Rocketmakers. Find out more about the IAP here.

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