London Remains Top Destination For European Tech Funding

www.oann.com | 5/13/2017 | Staff
joyy (Posted by) Level 3
LONDON (Reuters) – London remained the top destination in Europe for technology investment in 2018, with nearly double the amount being plowed into companies in the British capital than nearest rival Berlin, data showed on Wednesday.

Technology companies in London attracted 1.8 billion pounds ($2.3 billion) in venture capital funding, 72 percent of the total 2.5 billion pounds raised by UK tech businesses, according to data from funding database PitchBook on behalf of the Mayor of London.

Eileen - Burbidge - Partner - Venture - Capital

Eileen Burbidge, a partner at venture capital firm Passion Capital, said London was the leading hub for financial technology thanks to its position as one of the world’s biggest financial centers, while its universities helped to create companies offering artificial intelligence (AI).

“We get a lot of calls and inquiries from investors in the U.S. and Asia looking for fintech opportunities,” she told Reuters. “In fintech, AI and a few other sectors such as life sciences and robotics, London genuinely leads the world.”

London - Tech - Sector - Mayor - Sadiq

London’s tech sector and its mayor, Sadiq Khan,...
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