News / Deep Tech

South Bristol deep tech firm secures £4.8m investment

By Milan Perera, Tuesday Jan 2, 2024

Bristol-based, iCOMAT has been given a funding boost worth £4.8m from the UK Space Agency to lead a space infrastructure project.

iCOMAT, a spin-out company of the University of Bristol, provides cutting edge, patented light weighting solutions through pioneering technology across the aerospace, automotive and the space industry.

iCOMAT has achieved steady progress since its foundation in 2019 and has grown to 27 employees so far.

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On the recent funding boost, Rony Seamons, head of People Operations at iCOMAT said: “Through this investment, we enter an exciting new era for the business which brings an opportunity to grow our existing team. When fully operational, we expect to bring an additional 60 high-value roles to the company to help drive production.”

He added: “We have also made plans to engage with local learning providers to we can continue to provide exciting career paths for those leaving education in the region.”

“Through this investment, we enter an exciting new era for the business” said Ron Seamons – photo: iCOMAT

The funding comes as part of a wider £50m investment round from the UK Space Agency to back the development of space research, manufacturing and testing facilities across the UK, create new jobs and enhance the UK’s offering of space capabilities. iCOMAT are one of 12 successful applications throughout the UK.

During the past four years, the South Bristol deep tech firm has secured direct contracts with major OEMs (original equipment manufacturers) in the aerospace, automotive and space sectors.

On its fruitful partnership with Natwest Accelerator Hub, Seamons said: “Being a part of NatWest’s Entrepreneur Accelerator Hub has been a key part of the growth of the business and for myself on a personal level as a former Accelerator Manager.

“We’re looking forward to continuing our relationship with NatWest as we work together to expand the business and create high quality employment and investment opportunities in the region.”

NatWest’s Bristol Accelerator Hub has been providing advice and support to businesses within the South West’s enterprise community from its base in Trinity Quay.

All photos: iCOMAT

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