As a core element of the UK economy, the travel and transport sector links communities and supports growth across the nation. In 2023, the South West saw several companies securing significant investment to drive innovation and development in this space. This article highlights the top 10 travel and transport companies in the South West based on the highest amount of fundraising and evaluates how the region compares to others in the UK, using key fundraising benchmarks.
Top Travel and Transport Companies in the South West
This data reflects fundraising raised in 2023 by UK companies officially registered and active on Companies House within the travel and transport industry.
- Triskel Marine
Total amount raised: £1,103,776
Location: South West
Triskel Marine focuses on developing innovative marine technology solutions for vessel efficiency and sustainability. Their recent fundraising will support the expansion of their product line and international growth. - Beam Connectivity
Total amount raised: £1,202,369
Location: South West
Beam Connectivity provides smart technology solutions for connected vehicles, helping enhance vehicle efficiency and safety. The company’s fundraising in 2023 will be used to further develop their technology and scale operations. - savvy navvy
Total amount raised: £1,216,945
Location: South West
savvy navvy develops navigation software for boaters, offering a user-friendly platform for safe maritime travel. Their recent fundraising will allow them to expand their services and integrate new features. - Cockwells
Total amount raised: £2,245,041
Location: South West
Cockwells designs and manufactures luxury yachts and boats. Their 2023 fundraising will support increased production and the expansion of their facilities, catering to the growing demand for luxury maritime experiences. - Gravity
Total amount raised: £4,979,992
Location: South West
Gravity focuses on advanced propulsion systems, particularly for the aviation industry. Their innovative work in sustainable propulsion is supported by the significant fundraising they secured, which will help push forward their R&D efforts. - Firefly
Total amount raised: £5,000,000
Location: South West
Firefly specialises in clean energy transport solutions, particularly in electric vehicle (EV) charging. Their 2023 fundraising will be used to enhance their EV infrastructure and expand their operations across the UK. - ETM
Total amount raised: £7,000,000
Location: South West
ETM provides waste management services for transport and logistics companies, focusing on sustainability. Their recent fundraising will allow them to grow their operations and support more sustainable practices across the sector. - Pure Electric
Total amount raised: £7,786,415
Location: South West
Pure Electric designs and sells electric scooters and bikes, focusing on providing sustainable urban mobility solutions. Their 2023 fundraising will support international expansion and product development. - TravelLocal
Total amount raised: £8,300,000
Location: South West
TravelLocal is a platform for booking personalized travel experiences with local operators. The company’s recent fundraising will be used to scale its platform and increase its market reach, catering to growing demand for personalized travel. - Altilium Clean Technology
Total amount raised: £9,606,725
Location: South West
Altilium Clean Technology is focused on sustainable energy storage solutions, particularly for electric vehicles. Their recent fundraising supports the development of new technologies that improve energy efficiency and support the transition to electric transport.
How is the South West Performing?
Using regional fundraising benchmarks from 2023, we can critically evaluate how well the South West is performing in the travel and transport sector compared to other regions in the UK.
Total Fundraising Amount
In 2023, the South West raised £57.4 million across its top companies. This is an impressive figure, placing the region ahead of smaller areas like Northern Ireland (£2.14 million) and even some larger regions such as the North East (£25.7 million). The South West’s focus on sustainable transport solutions and luxury maritime services is helping drive growth.
Average Fundraising per Company
The South West’s average fundraising per company is £5.74 million, a strong figure compared to many other regions. This shows the region’s ability to attract investment, particularly in green technologies and sustainable transport solutions.
Top Fundraising Company
Altilium Clean Technology raised £9.6 million in 2023, positioning itself as the top performer in the South West. The company’s work in sustainable energy storage is crucial for the UK’s shift to electric vehicles, further boosting the region’s role in advancing green transport technologies.
How does the South West compare to other regions in the UK?
The South West is performing well compared to most UK regions, with strong growth in sustainable transport technologies, marine industries, and electric vehicle infrastructure. While it may not reach the scale of London’s £1.07 billion, the South West is carving out a niche for itself in sustainable transport solutions and maritime technology. This focus on green technologies positions the South West as a key player in the UK’s transition to a more sustainable transport ecosystem.
The Future of Travel and Transport Companies in the UK
The South West is well-positioned to continue its growth in the travel and transport sector, particularly in sustainable transport and luxury maritime services. Companies like Altilium Clean Technology and Pure Electric are leading the way in transforming how people travel, both on land and at sea. As the demand for eco-friendly transport solutions increases, the South West will play an important role in the future of the UK’s travel and transport landscape.