South West Tech News #4

We love the fact that the South West is a tech ecosystem with so many brilliant, innovative companies. This is why we gather the latest South West tech news from our brilliant region.

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

South West tech news
Source: TechSPARK 2021

Graphcore raises $222m in Series E funding round

The Bristol-based unicorn, Graphcore, have raised $222 million of investment to support their continued global expansion and accelerate future IPU silicon, systems and software development. Consequently, this investment brings the total funds raised by Graphcore to more than $710 million, with the company expecting to have over $440 million of cash on hand post-closing to support future growth. Graphcore is now valued at $2.77 billion, post-money.

The new investors bring experience in disruptive technology and support for scale-up businesses. Additionally, they emphasise the size of the market opportunity that Graphcore is addressing in datacentre AI compute, as well as the maturity of the company’s product offerings. 

Source: TechSPARK 2021

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South West tech news
Source: TechSPARK 2021

UWE Bristol supports Aerospace Bristol through pandemic

The staff, students and alumni from UWE Bristol are supporting Aerospace Bristol through the pandemic, ensuring future generations can enjoy the museum. Due to the pandemic, the museum has lost vital visitor and event income, leaving the future of the museum in jeopardy.

Teams from across the university have collaborated to support the museum in their plans for a safe reopening once measures are eased. They are providing 3D printed masks and visors for museum staff and volunteers, and supplying hand gel for visitors.

Although they are closed due to the pandemic, the museum is providing online educational activities and resources. The Engineering Design and Mathematics department at UWE Bristol has developed a wide range of flight-themed activities for people to enjoy in their homes.

Source: TechSPARK 2021

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South West tech news

Sage and Brightpearl announce partnership to accelerate digital transformation for retail customers

Sage are a market leader in cloud business management solutions, they have announced a significant partnership with Brightpearl. Brightpearl is a market-leading Digital Operations Platform targeted at digital retailers across the globe.

Under the partnership, Sage will make a minority investment of approximately £17 million into the business. Additionally, they will take a seat on Brightpearl’s board. Sage and Brightpearl will help retail and e-commerce customers take advantage of best-of-breed cloud finance and retail management solutions, supporting them on their digital journey. The partnership with Brightpearl is consistent with Sage’s broader strategy to invest in complementary high growth cloud-based software applications.

Source: TechSPARK 2021

South West tech news

New Growth Programme for early StartUps launched in South West England

Tech South West has teamed up with virtual accelerator Activate and startup advisor Skowt Consulting to provide fully-funded opportunities for up to 30 pre-seed companies a year to progress their business through the programme and then pitch to regional, UK and global investors.

Dan Pritchard, the co-founder of Tech South West, said: “Support for early-stage companies is an essential part of any dynamic and successful tech sector which is why we’re delighted to be launching Tech South West StartUp Studio. It makes absolute sense to provide a brilliant growth accelerator programme and investment opportunities to companies and founders whichever part of the region they emerge.”

Firms can now apply to join the fully-funded StartUp Studio, including the 6-week Activate programme, to secure a place in the first cohort, at www.techsouthwest.co.uk/startupstudio

Source: Tech South West 2020

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