West's tech sector saw £34m raised across 20 companies in August says TechSPARK

More than £34 million was raised by 20 companies in the tech sector in August this year, according to TechSPARK, the not-for-profit network focused on the west region.

The funds are part of the investment Activator Programme (IAP), run by TechSPARK and designed to support companies, which are raising equity investment in the South West.

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TechSPARK outlined details of six companies, of the 20, which have shared news publicly and raised £24 million.

One is the start-up Phasecraft, a spin-out of University College London and the University of Bristol, which raised £13 million to develop quantum algorithms for practical real-world applications.

Another is Bristol-based sustainability organisation Matter, which brought in US$10 million in a Series A funding round, to allow it to scale its microplastic filtration technology and accelerate its roadmap of solutions for commercial and industrial applications.

Oxi-Tech, a ground-breaking clean-in-place disinfectant technology company, received an investment from a syndicate of 14 Henley Business Angels, contributing to an overall funding round of £1 million, while Adaptavate, a Bristol-based world leader in developing and industrialising carbon negative construction materials, secured a further round of investment of £2 million.

Meanwhile, another Bristol organisation Wake The Tiger could be set to double in size after it secured a £500,000 investment.

The immersive art experience, billed as the world's first 'Amazement park', which was founded by the organisers of music festival Boomtown Fair, opened last summer and has sold more than 190,000 tickets since.

TechSPARK also noted Curcular11, the climate tech start-up, which this year has raised £500,000 through grants and investors and established a manufacturing facility in Dorset.

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