UK races ahead of European rivals with record tech investment

Venture capital investment in Britain’s burgeoning tech industry almost doubled to a record £2.99 billion in 2017, comfortably beating second-place Germany, which notched up £694.49 million.

London proved the driving force behind the investment splurge, hauling in £2.45 billion over the period compared to £1.23 billion in 2016, according to research by PitchBook for London & Partners.

The amount was underpinned by a string of mega injections, including £391 million Series B funding into Improbable, £364 million for food delivery app Deliveroo and £255 million for Truphone.

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