• Skip to main content
  • Skip to secondary menu
  • Skip to footer

Technologies.org

Technology Trends: Follow the Money

  • Sponsored Post
    • Make a Contribution
  • Technology Events 2022-2023
  • Technology Domains
  • Technology Markets
  • Venture Capital
  • Contact
    • About

2017 Record Year for London and UK #Tech Investment

January 5, 2018 By Technologies.org Leave a Comment

2017 was a record year for UK tech investment, with London-based firms attracting the lion’s share of funding, according to data from London & Partners. The findings also revealed that the UK is Europe’s leading country for global tech investors, with British tech firms attracting more venture capital funding than any other European country in 2017.

According to data compiled for London & Partners by PitchBook, venture capital investment into the UK’s tech sector reached an all-time high in 2017 with UK firms attracting £2.99 billion – almost double the total amount invested in 2016 (£1.63bn)[1].

London

London’s tech sector continues to fuel the growth of the UK’s digital economy, with the capital’s tech firms raising a record £2.45 billion and accounting for around 80 per cent of all UK venture capital tech funding in 2017. Some of the biggest deals last year included a £391m Series B investment into Improbable, Deliveroo (£364m) and Truphone (£255m).

Further analysis of the data shows that the UK and London remain the favourite destination in Europe for tech investors. UK firms attracted almost four times more funding in 2017 than Germany (£694m) and more than France, Ireland and Sweden combined. London tech companies also raised significantly more venture capital investment than any other European city, including Amsterdam, Berlin and Paris.

The Mayor of London, Sadiq Khan, said: “Today’s record investment figures are further proof that London is the undisputed tech capital of Europe and I am committed to ensuring we take over from Silicon Valley as the world’s leading tech hub.”

“Technology entrepreneurs and businesses are attracted to our great city for its diverse talent pool and unique business ecosystem and I am determined that London remains open to investment and the best tech talent from all over the world.”

Eileen Burbidge, Partner at Passion Capital added: “The UK remains one of the world’s leading hubs for technology investors and it is no surprise to see that UK tech companies attracted double the amount of venture capital financing than any other European country last year.”

“It’s a testament to our exceptional entrepreneurs that the UK tech sector continues to produce companies that are leading in the development of cutting edge technologies such as artificial intelligence and fintech. This environment and ecosystem of innovation presents tremendous opportunities for investors and will help to attract global investment into the UK’s digital economy for many years to come.”

Fintech was the leading sector for investment in 2017, with UK financial technology firms attracting a record £1.34 billion in VC funding. London’s fintech firms led the way, accounting for over 90 per cent of all money raised by UK fintech firms last year. 2017 saw major funding rounds for financial technology companies such as TransferWise (£211m), Funding Circle (£81.9m) and Monzo (£71m).

London’s Artificial Intelligence (AI) companies also saw elevated levels of funding in 2017. Big deals for companies such as Babylon Health (£47.56m), Callsign (£26.92m) and Starship Technologies (£13.95m) saw investment in London AI companies reach over £200m – increasing over fifty percent on 2016 funding levels. This trend was replicated nationally, with UK AI companies raising a record £488m last year and double the amount raised (£232m) in 2016.

Last year saw a number of the world’s leading tech companies pledge their long-term commitment to the capital, with significant investments from Amazon, Apple and Google. In the second half of last year, Spotify announced it will expand its R&D operation in London and double its headcount, while US tech giant Facebook confirmed it will create an additional 800 jobs for its new London headquarters.

SOURCE London & Partners

Related

Filed Under: Tech Tagged With: UK Tech Investment

Reader Interactions

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Footer

Recent Posts

  • AWS Announces General Availability of Amazon EC2 C7g Instances Powered by AWS-designed Graviton3 Processors
  • Infinitum Electric Raises $80M in Series D Funding Led by Riverstone Holdings to Scale Production of Sustainable Motors
  • Introducing IonQ Forte, Improving Quantum Performance with a Software-Configurable Dynamic Laser System
  • Cloudflare Unveils New SQL Database Offering
  • Cloudflare announces Workers for Platforms
  • Intel is rolling out new processors designed for data centers
  • EU moves to wean itself off Russian fossil fuels
  • A New Hydrogen-Powered Behemoth
  • BAE Systems to Bring Next-Generation Electric Drive System to Heavy-Duty Industrial Vehicle Market
  • MEMS Speakers Are Replacing Balanced Armature Speakers

Media Partners

  • VPNW
  • S3H
  • OPINT
  • Press Media Release
  • OSINT
  • Digital Market
  • Briefly

Media Partners

  • Technology Conferences
  • Event Sharing Network
  • Defense Conferences
  • Cybersecurity Events
  • Event Calendar
  • Calendarial
  • Opinion
  • Venture Capital

Copyright © 2015 Technologies.org

Technologies, Market Analysis & Market Research Reports

We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept”, you consent to the use of ALL the cookies.
Do not sell my personal information.
Cookie SettingsAccept
Manage consent

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
Necessary
Always Enabled
Necessary cookies are absolutely essential for the website to function properly. These cookies ensure basic functionalities and security features of the website, anonymously.
CookieDurationDescription
cookielawinfo-checkbox-analytics11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Analytics".
cookielawinfo-checkbox-functional11 monthsThe cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional".
cookielawinfo-checkbox-necessary11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookies is used to store the user consent for the cookies in the category "Necessary".
cookielawinfo-checkbox-others11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other.
cookielawinfo-checkbox-performance11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Performance".
viewed_cookie_policy11 monthsThe cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. It does not store any personal data.
Functional
Functional cookies help to perform certain functionalities like sharing the content of the website on social media platforms, collect feedbacks, and other third-party features.
Performance
Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.
Analytics
Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc.
Advertisement
Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. These cookies track visitors across websites and collect information to provide customized ads.
Others
Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet.
SAVE & ACCEPT