PitchBook has compiled a data for London and Partners which revealed that London was the top city in Europe for tech investment in 2017. The data also showed that British companies got more funding in technology sector as compared to Paris and Berlin etc. London was Top Destination for Tech Investment in 2017: PitchBook.
Technology companies in London got 2.45 billion pounds in venture capital funding in 2017. Among this, 80 percent of 2.99 billion pounds were invested in Britain.
London was Top Destination for Tech Investment in 2017: PitchBook
Eileen Burbidge, partner at Passion Capital said that it was evident that UK will be on the top this year with the developments.
She said that:
It’s a testament to our exceptional entrepreneurs that the UK tech sector continues to produce companies that are leading in the development of cutting edge technologies such as artificial intelligence and fintech,”
Financial technology was the most famous thing in 2017 which attracted investors and made a record of 1.34 billion pounds in venture capital.
As expected, Artificial Intelligence was also one of the most invested area which raised 488 million pounds. It is double when compare to last year.
Burbidge said that the biggest challenge was to attract investors to invest in IT sector which is the most neglected sector of the industry. Telling about the achievement she said:
“Access to talent is critically important.“Being able to attract EU talent has been a huge advantage for the UK in the last few years. For the UK to look like a welcoming place is really important.
She also told that among 150 countries operational, 50 are headquartered in London and 25 other IT foreign companies plan to operate in London.