UK Tech Companies Have A Record £5.5bn in Foreign Investment

Browse By

Fast-growing UK tech companies secured a record £5.5bn in foreign investment in the first seven months of this year, according to research for the government’s digital economy council.

The study for the Department of Digital, Culture, Media, and Sport (DCMS) body revealed that the UK has overtaken the US for the amount of investment per capita.

Funding growth was driven by the US and Asian investment in unicorns – private companies valued at more than $1bn (£820m) – such as a renewable energy company Ovo Energy and takeaway business Deliveroo, according to the research by Tech Nation and Dealroom.

American and Asian investors pumped £3.1bn into UK firms during the period to July, making up 55% of all funding.

Other UK firms to secure major investment over the year so far included supply chain finance firm Greensill and fintech firm Checkout.com.

Nicky Morgan, the culture secretary, said: “These fantastic figures show the confidence overseas investors have in UK tech, with investment flows from the US and Asia at an all-time high.

See also  6 African Innovations Against COVID-19 You Need To Know About!