British tech companies have attracted more foreign investment in the past seven months than in the whole of 2018, racking up $6.7bn (£5.5bn) in funding. More than half of that amount came from US and Asian investors. As such, the UK is now receiving more non-domestic capital, per capita, than the US, according to data released today by Tech Nation and Dealroom for the government’s Digital Economy Council. Stellar rounds for billion-dollar companies such as Checkout, Deliveroo and Oaknorth helped to boost the sector to attract an average of $1bn per month from both foreign and domestic investors – one and a half times the average amount raised each month last year. At the current rate, it is predicted the UK will exceed $11bn in investment by the end of 2019, far surpassing 2017’s record of $9.4bn and the $8.7bn raised last year. A surge in higher-value deals – rounds of $100m or more – led to the second quarter also breaking the previous quarterly record by more than $1bn. The total amount injected into British technology by US and Asian investors since 2013 has now reached $14.6bn, compared to $6.5bn and $2.5bn for German and French startups respectively. In… Read full this story
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