London’s status as one of the world’s major technology hubs has been highlighted by new findings that show it netted a huge amount of investment this year.
Data from London & Partners has said that London’s technology firms have so far received £1bn in funding, including £320m in venture capital investment in the last three months.
This investment marks nearly three-quarters of the UK total of £1.4bn, which makes 2015 the most successful year yet, eclipsing last year’s figure of £1.3bn, and coming in at over ten times more investment in 2015 than in 2010.
The firm was keen to promote the success of London’s e-commerce start-ups in securing major funding recently, particularly the likes of Deliveroo (£45m), MADE.com (£39m), Secret Escapes (£39m) and Prodigy Finance (£12.7m) which together have raised a combined amount of £160m, half of the total amount raised in London this quarter.
According to separate research by professional services firm EY more than 1,000 international tech investment projects were located in London between 2005–2014, significantly more than the next most attractive city, Paris (381).
“As a global financial and technology powerhouse, it is no surprise to see that the capital is the jewel in the crown when it comes to venture capital investment in the UK tech sector,” said Mayor of London Boris Johnson.
“With record investment helping companies to flourish, access to top tech talent, world class universities and great transport links, there has arguably never been a better time to start, grow and scale a digital business in London.”
What do you know about start-ups? Take our quiz!
British regulator invites feedback on major partnerships Microsoft and Amazon have struck with smaller AI…
Another 20 staff have been fired by Google over Israel protest and their “completely unacceptable…
Censorship row brewing down under, after the Australian Prime Minister calls Elon Musk an 'arrogant…
Financial regulator asks New York judge to impose $5.3 billion in fines against Terraform Labs…
Lightweight artificial intelligence model launched this week by Microsoft, offering more cost-effective option for Azure…
ByteDance protest falls on deaf ears, as Senate passes TikTok ban or divest bill, with…