The UK tech sector has produced one unicorn firm each month over the past year, according to new figures released ahead of London Tech Week.
The UK has created more unicorn tech companies, firms valued at more than 1 billion US dollars, than any other country except for the US and China, according to new data compiled by Tech Nation and Dealroom.
Ahead of this year’s London Tech Week, which starts today, it has been revealed that the UK produced 13 firms valued at more than 1 billion US dollars (Â£784 million) over the past year, taking its overall total to 72.
More than a third of Europe’s fastest-growing tech companies are now based in Britain, following 35 billion US dollars (Â£27 billion of investment in the British tech sector between 2013 and 2018.
London leads digital growth across the continent, with 45Â unicornsÂ based in the city, including 18 fintech firms, such as Monzo, Revolut and OakNorth.
The new figures also reveal that the UK has six cities outside of the capital which are home to at least two techÂ unicornsÂ – Cambridge, Oxford, Manchester, Leeds, Bristol and Edinburgh.
Since the start of 2019, a number of UK firms have confirmed their unicorn status with major funding rounds, including Starling Bank, Deliveroo and Ovo Energy.
.(tagsToTranslate)Technology(t)Theresa May(t)Technology Editor's Choice(t)Standard
This is a syndicated post. Read the original post at Source link .