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Okay tech corporations have raised extra enterprise capital funding within the first 5 months of 2022 than in the entire of 2020, in accordance with new figures.
The £12.4 billion in funding raised up to now this yr places the UK second solely to the US when it comes to start-up funding, and forward of the likes of China, France and India.
The figures have been analysed by the UK’s Digital Financial system Council, based mostly on knowledge by Dealroom and launched forward of the beginning of London Tech Week on Monday – the annual celebration of the UK tech sector the place business and authorities figures focus on the way forward for the business.
They present that 950 UK tech start-ups have raised £12.4 billion this yr, in comparison with £12 billion raised throughout the entire of 2020.
The UK is now dwelling to 122 unicorns – start-ups valued at one billion kilos or extra – with greater than 20 cities and cities now dwelling to no less than one unicorn.
London, Bristol and Oxford have been additionally named within the high 20 cities in Europe for funding.
Tradition Secretary Nadine Dorries, who will ship the opening remarks on the primary day of London Tech Week, mentioned: “It’s a staggering achievement that UK tech corporations are attracting extra funding than nations greater than ten instances our dimension.
“This can be a big vote of confidence within the expertise behind nice British tech and the revolutionary, aggressive market that we’ve right here.”
Russ Shaw, founding father of business teams Tech London Advocates and World Tech Advocates, mentioned: “As we head into London Tech Week, it’s nice to see the power and resilience of your entire UK tech ecosystem, not simply London’s.
“Knowledge like that is vital to showcase the place we’re however it additionally helps encourage us to do higher – we wish to see extra various founders and extra affect corporations launching to tackle the tough international conditions we’re going through.
“And if there’s wherever that may try this efficiently, it’s UK tech.”
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