The University of Bristol-led incubator now has more than 80 portfolio companies, which posted a combined turnover of $77m during 2019.
The portfolio of SetSquared Bristol, the incubator helmed by University of Bristol, collected a total of £64m ($85m) in funding over the course of 2019.
The incubator, part of the multi-university SetSquared enterprise development partnership, now has more than 80 member businesses spanning 27 sectors.
About 26% of the portfolio companies were funded during the period, equating to 33 businesses. The portfolio’s cumulative turnover amounted to $77m.
Highlights included customised holiday package marketplace TravelLocal, which raised an undisclosed sum from broadcaster Channel 4 in August 2019 to bring its total funding above $10.4m.
Others to have received funding include Immersive Labs, the developers of an interactive training platform for cybersecurity skills, fresh from a $40m series B round in November 2019 and $8m series A in January the same year.
University of Bristol also picked out the $15.6m sum raised by its 5G communications chip spinout Blu Wireless in May 2019, in a round co-led by mobile chipset maker Arm.
Lastly in terms of equity, irrigation system developer Lettus Grow received about $4m across two rounds, including $585,000 in a January 2019 round featuring University of Bristol Enterprise Fund II, the co-investment vehicle managed by Parkwalk Advisors.
SetSquared Bristol offers participants resources such as coaching, workshops and help to prepare investment proposals. Support is offered both through its physical incubator and a virtual program where entrepreneurs participate remotely.
Steve Edwards, interim centre director for SetSquared Bristol, said: “2019 was a great year for SetSquared Bristol and its members, as well as the wider ecosystem.
“We have seen more investment into the area’s rich and diverse tech startup scene and even more impressive turnover revenues from our members.”
