South West News #12

Our South West tech news round-up aims to give you an insight into the latest tech news specifically in the South West. If you enjoy this, make sure to sign up to our email list to receive updates on more content like this!

We also do a weekly tech update, which you can find here.

Lumio raises £1.15m Seed round to grow your money on autopilot.

Source: TechSPARK 2021

Lumio, the personal finance brain that grows your money on autopilot, has raised £1.15m in Seed round funding. This backing came from angel investors including Matteo Berlucchi, William Frewen, Richard Fearn, Ben Lundie as well as 1,287 crowd investors to help Lumio achieve their mission of growing 1 million customers’ money by 2024. Lumio was created to take personal finance management to a new level – Personal Finance Optimisation. Lumio delivers all the convenience of the other PFM players, but takes things further, allowing the customer to connect their entire financial lives, matches you with the right product at the right time and sets up automatic transfers to grow your money on autopilot.

Lumio’s core focus as a company is to be 100% driven on how they can be the most efficient company in the industry in using data to grow customers’ money in the right product, at the right time.

Source: TechSPARK 2021

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Bristol entrepreneurs set up fund to invest in startups

Source: TechSPARK 2021

A group of successful Bristol entrepreneurs have set up a mechanism to provide seed-funding for early-stage start-up businesses in the South West.

It is a new venture for the well-established Bristol Private Equity Club (BPEC), which previously only invested in established enterprises with growth potential.

BPEC Seed is sourcing the businesses to fund through established links with organisations including us at TechSPARKSETsquared and Tech South West, with around 20% of BPEC members looking at supporting start-ups. Heading up BPEC Seed is Peter Lockett, active BPEC member since 2018, supported by colleagues Ben Cooper and Sam Simpson. All three volunteers have had extensive experience and success with their own early-stage companies and are active Business Angels in the South West.

Source: TechSPARK 2021

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Cornish Lithium wins share of £9.4m Government green tech investment

Source: Business Live 2021`

A project which could see a full-scale lithium mine operating in Cornwall within five years has won a share of a £9.4million Government investment into new battery and electric vehicle technology.

Cornish Lithium, which is looking to create a lithium extraction plant in the Duchy, is among 22 studies sharing the cash in a bid to develop innovative automotive technology, including hydrogen vehicles, and support the Government’s plan to phase out the sale of new petrol and diesel cars by 2030 and Build Back Greener following the pandemic.

Cornish Lithium’s Trelavour Hard Rock Lithium Scoping Study will assess the feasibility of developing a sustainable UK supply chain through the construction of an extraction plant that will produce low-carbon lithium hydroxide from a hard rock source in St Austell. 

Source: Business Live 2021

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Bristol-based tech arm of aerospace giant Leonardo unveils anti-human trafficking innovation

Source: Business Live 2021

A cyber business in Bristol has unveiled new technology that could be used to deter human traffickers and save lives.

The tech arm of aerospace giant Leonardo has revealed details of its innovation which generates an electromagnetic field that could be used to detect people hiding in transport vehicles or containers. During a security conference dedicated to the discussion of how border forces could utilise new technology, a team representing Leonardo proposed x-ray-like sensors at ports that can penetrate steel and identify an individual’s “electromagnetic signature”, which is as unique to them as their fingerprint.

The company told the audience of experts across government, industry and academia that the technology was able to identify the presence of a human, even when hiding amongst animals, and was not harmful to either.

Source: Business Live 2021

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