Skip to main content

British tech firms reveal record levels of investment

(Image credit: Image source: Shutterstock/violetkaipa)

The UK tech sector has received more foreign investment (opens in new tab) in the first seven months of this year than all of last year, new figures are showing.

According to figures from Tech Nation and Dealroom, the country has seen $6.7 billion in investments ending with July this year. For the same period last year, we’ve seen $4.7 billion in investments, or 43 per cent less. Looking at the figures in sterling terms, the percentage jumps to 50, given that the dollar has gained strength against the pound in the meantime.

The report says that the UK has overtaken the States, in terms of amount of investment per capita, “a clear sign of confidence investors have in UK tech (opens in new tab)”.

Most money (55 per cent) had come from investors in the States and in Asia - some $3.7 billion.

"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,” says Nicky Morgan, secretary of state for Digital, Culture, Media and Sport.

"We have a longstanding reputation for innovation and the statistics endorse our reputation as one of the best places in the world to start and grow a digital business."

It seems as foreign investors (opens in new tab) aren’t as worried about the effects of Brexit as UK firms are, as recent reports suggest that the number of jobs in the UK’s IT industry has dropped 13 per cent year-on-year, something Brexit is blamed for.

Sead Fadilpašić is a freelance tech writer and journalist with more than 17 years experience writing technology-focussed news, blogs, whitepapers, reviews, and ebooks. And his work has featured in online media outlets from all over the world, including Al Jazeera Balkans (where he was a Multimedia Journalist), Crypto News, TechRadar Pro, and IT Pro Portal, where he has written news and features for over five years. Sead's experience also includes writing for inbound marketing, where he creates technology-based content for clients from London to Singapore. Sead is a HubSpot-certified content creator.