Britain is still the European Hub for international technology investors according to a study released today. Technology companies in Britain over the last two years have received almost 3x more investment from venture capital compared to any other country in Europe. Technology companies attracted more than 5 billion pounds since the 2016 referendum vote, which is more than Germany (2.15 billion pounds), France (1.55 billion pounds) and Sweden (644 million pounds) combined. Technology firms in London have been the destination of much of the investment with 80% of all UK venture capital funding over the same period.
The study performed by London & Partners, which is London Mayer Sadiq Khan's official promotional agency, explained that investors were attracted to London's cutting edge technology sectors such as Artificial Intelligence, cyber security, and Fintech.
The news comes in the same week as Portugal's Outsystems was evaluated at more than $1 billion after a combined investment round of $360 million from Goldman Sachs and KKR. The news of Portugal being the home to its second unicorn level start up (Farfetch reached unicorn status in 2015) should inject some fire into the Lisbon start-up scene.
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