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PRIVACY
Economic Development

Venture capital investment in South West firms soars 82%

The highest proportion of deals took place in Bristol, with companies spanning a range of sectors

Bristol-based e-commerce fulfilment provider Huboo raised 拢47.4m in the last quarter of 2024(Image: Huboo )

Companies in the South West raised more than £104m of venture capital (VC) funding in the last three months of 2024 - up a staggering 82% on the previous quarter.

The region ranked fourth in the 海角视频 overall for VC investments, trailing only London (£2.9bn), the South East (£637.8m) and the East of England (£480.5m), which encompass Oxford and Cambridge.

According to KPMG’s latest Venture Pulse report, 28 transactions were completed across the West Country, up from 21 in the previous quarter, with the highest proportion of deals taking place in Bristol, where seven VC investments took place.

A huge £47.4m was raised by Bristol-based fulfilment services firm Huboo Technologies alone over the period - over half of the total figure raised.

Investment in Huboo Technologies drove an overall strong quarter for both business-to-business and business-to-consumer product and service providers in the South West, with £73.9m invested in a total of 13 companies, spanning logistics, aerospace, environmental services and automotive.

IT was also a robust sector in terms of VC investment, with more than £14.7m invested across 11 regional companies.

David Williams, office senior partner for the South West at KPMG 海角视频, said: “It’s great to see such a steep increase in VC investment in the South West during Q4, positioning it as the fourth largest 海角视频 region for the quarter, which is testament to the region’s thriving private business ecosystem.

“Looking ahead to 2025, we’re excited to see the continued growth of the South West’s most promising firms, which span a huge range of sectors, especially those that make the most of VC funding to pursue expansion.”