Investment in Britain’s tech sector increased 44% to a record $13.2 billion pounds in 2019, according to the research conducted by Tech Nation and Dealroom.co. The total investment in the UK accounted for a third of all European funding that surpassed the total in France and Germany combined. The UK followed the US and China in terms of venture capital funding and also witnessed healthy growth, whereas both the countries saw declines.
As per the research, companies headquartered in London secured $9.7 billion pounds of the total, and the money invested in early-stage companies surged to $5.1 billion in 2019, from $4 billion in 2018. London joined San Francisco’s Bay Area, Beijing, and New York at the top of the world’s most-funded locations. Britain also saw record-breaking investment and the creation of eight new billion-dollar companies last year.