Fast-growing UK tech companies secured a “staggering” 6.7 billion US dollars (£5.5 billion) in investment in the period to July, according to new research by Tech Nation and Dealroom. The research for the Department of Digital, Culture, Media and Sport’s digital economy council revealed that the UK has overtaken the US for the amount of investment per capita.
Funding growth was driven by US and Asian investment in unicorns such as a renewable energy company Ovo Energy and takeaway business Deliveroo. American and Asian investors pumped 3.7 billion dollars (£3.1 billion) into UK firms during the period, making up 55% of all funding. Other UK firms to secure major investment over the year so far included supply chain finance firm Greensill and fintech firm Checkout.com. Nicky Morgan, Secretary of State for Digital, Culture, Media and Sport, said: “These fantastic figures show the confidence overseas investors have in UK tech with investment flows from the US and Asia at an all-time high.