Leeds-based investment non-profit, NorthInvest, has raised more than £2m for Northern start-ups in the first quarter of the year.
The organisation has supported 5 grant funding and investment rounds, to help “IP-rich” start-ups in the region.
“The hard work of our talented team is allowing us to bring together an ever-growing community of active investors from across the North of England, particularly in the North East, with a strong pipeline of credible founders and startups,” explained Professor Adam Beaumont, Founder of NorthInvest.
“This community is more important now than ever during the current COVID-19 crisis and we have no doubt we will continue on a positive trajectory moving into the next quarter.”
NorthInvest hosted a series of virtual pitch events since the lockdown, connecting 18 start-ups with more than 40 private investors and VCs from the NorthInvest and Northern Angel Hub in partnership with the Innovation SuperNetwork and RTC.
It added that almost half (46%) of the entrepreneurs taking part in the presentations were female.
“NorthInvest are dedicated to closing the gender investment gap and seeing a growth in the number of female investors and women in senior positions within investment organisations. We’re delighted to see an increase in the number of female founders supported and keen to progress this further to shape a diverse funding community after Covid-19,” said Helen Oldham, Founding Board Director of NorthInvest.
Among the companies to receive funding are PropTech start-up, One Utility Bill, which raised £1.5m in an investment round led by DSW Angels.
Recourse (formerly aiPatient), a Manchester-based Health and EdTech platform training medical practitioners and students through AI-powered virtual human patients, raised £150,000 in equity investment. This was match-funded by Innovate UK.
Data centre efficiency firm, Edgetic in Leeds and medtech company Sepsis have also received £150,000 in grant funding.