To date, London has been hailed as the undisputed tech capital of Europe! According to the latest report by Dealroom.co and London & Partners, the companies founded in the UK tech capital helped Europe reach record levels of tech venture capital funding in 2020.
Raised £7.6 billion in 2020
The findings also revealed that the UK capital received more tech VC investment than any European city in 2020. Despite the global pandemic, the UK’s exit from the European Union, London tech firms raised $10.5 billion (approx £7.6 billion) in 2020 – significantly more than the total amount raised in 2017 (£5.1B) and 2018 (£4.3B) and close to the record in 2019 (£7.8B).
London at the heart of growth
2020 was a record year for VC funding into Europe’s tech sector, with figures from Dealroom.co revealing European tech companies raised $43.1 billion (approx £31.4 billion) last year. London was at the heart of this growth, with its tech firms accounting for a quarter of all European tech funding. ...