Better Business / Ferryx
Record number of funding raises led by women at SETsquared Bristol
Almost half of total funds raised by companies at tech incubator, SETsquared Bristol were led by women in 2022.
Women were behind £15m of the total £33m raised by the 85 companies at the University of Bristol-led incubator, according to its 2022 impact results.
SETsquared Bristol believes this is testament to its long-term focus for inclusivity within the tech sector through its programmes, ‘Enterprising Women‘ and ‘Breakthrough Bursary‘.
Women were behind £15m of the total £33m raised by the 85 companies at the University of Bristol-led incubator – photo: SETsquared
Its figures also show that the healthtech and engineering sectors were particularly strong for investment, comprising 33 per cent and 36 per cent of total funding.
Ferryx, a University of Bristol woman-led spinout, raised £305k seed capital, as well as being awarded an Innovate Fast Start grant.
Ferryx CEO, Dr Jenny Bailey said: “2022 was a great year for Ferryx, we received our first investment and were able to use these funds to launch our first product, Ferrocalm, a food supplement to support gut health.
“The support we have received through SETsquared Bristol has been integral to both these processes and we would not have progressed as quickly otherwise.”
Other high-level SETsquared Bristol company raises included healthtech innovators Emm and FluoretiQ, metaverse tech company Condense, giving platform Neighbourly, and world-leading tech interface company, Ultraleap.
Kimberley Brook, director at SETsquared Bristol said: “It’s a testament to the entrepreneurialism and resilience of our women-led companies that they are raising more funding than ever before.
“We’re thrilled with these stats given that 83 per cent of UK VC deals are to businesses who have no women on the founding teams, but there is more to do.
“We will continue to work hard to drive tech investment and increase support for underrepresented founders.”
Main photo: SETsquared Bristol
Read next:
- Bristol University spin-out launches natural solution to gut problems
- Event being held to celebrate women in business
- ‘Good mentors are important to improve diversity in a male dominated workplace’
- Support network of mums in business is expanding
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