A record 45% of funding raises led by women

Posted by 

SETsquared Bristol

A record 45% of total funds raised by our companies were led by women in 2022.

Women raised £15 million of the total £33 million raised by 85 of our companies. This is testament to our long-term focus for inclusivity within the tech sector which includes our programmes, Enterprising Women and Breakthrough Bursary.

Our new 2022 impact figures also showed that the healthtech and engineering sectors were particularly strong for investment, comprising 33% and 36% of total funding.

Examples of women funding raises included digital eye care company, OKKO Health, which raised £2 million VC-led investment to support the launch of its sight monitoring app.

OKKO Health Co-founder and CEO, Dr Stephanie Campbell said: “Last year was pivotal for OKKO Health. As well as raising investment, we grew our Bristol-based team to 20 people and developed the base tech for our medical AI development. We couldn’t have done this without our SETsquared network, one of whom was our interim CTO, and another an integral board member.”

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% 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.”

Find out more about SETsquared Bristol’s impact.

Recent News, Blogs and Stories

Impulsonics founders at NEC competition

Cell technology spinout Impulsonics closes £450k funding

Impulsonics has closed its first funding round to advance the development of its unique biotech automation platform and begin customer trials. Impulsonics is an award-winning cell technology spinout from the...
Enterprising Women 3.0 group

Call out for women founders looking for business support 

We’re thrilled to launch Enterprising Women 4.0, our free business support programme for aspiring women founders, kindly funded by NatWest. Enterprising Women is open to early-stage founders in the UK...
Celltris team - six people in manufacturing space smiling wearing black Celltris jumpers

Battery development startup Celltris receives £0.8 million investment

Bristol-based battery startup, Celltris has received a substantial boost in investment towards its mission to eliminate wasted internal space in lithium-ion cells, the rechargeable batteries used in electric vehicles. The...


Fast track your technology business