South West Tech News #3

We love the fact that the South West is a tech ecosystem with so many brilliant, innovative companies. Which is why we gather the latest news regarding from growing tech companies around us.

Deep tech ecosystem ‘Science Creates’ launches with new Unit DY incubator and £15m early stage investment fund

Dr Harry Destecroix, a scientist and entrepreneur has unveiled Science Creates, a deep tech ecosystem that offers specialised incubator space, a £15 million investment fund, and a comprehensive network of strategic partners to nurture science and engineering start-ups and spin-outs.

In partnership with the University of Bristol and located in the heart of the city, this world-class hub is set to become the ‘new West Coast’, transforming disruptive discoveries through impactful commercialisation.

Dr Harry Destecroix, founder of Science Creates, explains: “Where a discovery is made has a huge bearing on whether it’s successfully commercialised. While founding my own start-up, Ziylo, I became aware of just how many discoveries failed to emerge from the lab in Bristol alone. No matter the quality of the research and discovery, the right ecosystem is fundamental if we are going to challenge the global 90% failure rate of science start-ups^[1], and create many more successful ventures.”

Source: Tech Spark 2020

Bath-based Living Map raises further £850k

Living Map, a digital map and data platform, has completed an £850,000 funding round led by existing investors Committed Capital and Mercia Asset Management.

This funding will allow Living Map to further enhance its technology and support the continued roll-out of its new service to guide passengers between flights and airports.

The latest funding follows two earlier rounds in 2018 and 2019 and brings the total raised by the company so far to over £4.5m. This funding round will help Living Map continue to invest in the growth and development of the business including the launch of the digital connection service.

Dominic Hazlehurst, Living Map’s CEO, said: “We are delighted with the considerable support we have received from our investors. With the opportunities that are available to us across our key industry verticals and armed with the technology to realise them, we anticipate an incredibly exciting period in the business’s development next year and beyond.”

Source: Tech Spark 2020

Healthcare Tech Company Obtains Swig Finance Funding

The Exeter-based business Spatial Quotient who create technology for hospitals and healthcare, have secured debt funding through SWIG Finance.

Spatial Quotient use technology and data to solve people-flow problems within the healthcare sector. By using real-time data, it aims to improve the hospital and clinic experience for patients and staff by reducing waiting times and optimizing space and resource allocation.

Despite the Covid-19 pandemic, the business has more than £1m of contracts agreed.

The £210,000 loan from SWIG Finance will be used as working capital to support business continuity and fulfil new contracts. The current team of seven will expand, with 21 jobs set to be created over the next three years.

Source: Insider Media 2020